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ICLM Direct-to-Mobile-Bill & Top-Up Transfers

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  1. INTRODUCTION TO THE ICLM SERVICE
  2. MORE INFORMATION

     
  3. SNAPSHOT OF THE TMG’S “ICLM TRANSACTION” SERVICE
     
  1. INTRODUCTION TO THE ICLM SERVICE
  1. Overview

The TEL.mobi Group’s Intra-Closed-Loop Members Transaction Service / “ICLM Transactions” service is an advanced “Direct-to-Mobile-Bill” service, unique to Webtel.mobi and the TEL.mobi Group.

 

The information below is summarized information providing the most relevant information on the system as an introduction.

 

For detailed information on the system, please click here to obtain the “ICLM Booklet” which contains detailed information on the ICLM Service, or click here to obtain the “Independent Agents Handbook”, which contains detailed information on the ICLM Service and various related services.

 

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  1. ICLM Method of Operation:

Diagram of a “Mobile Operator Stored Credit Swap” / “MOSCS”


  1. Member A does a Top-Up Transfer / ICLM of $10 to Member B via the TEL.mobi Group System – takes 1/100th of a second.
  2. $10 of Member A’s Stored Credit in the Bank Account is swapped to Member B’s Stored Credit in the Bank Account.
  3. $10 of Stored Credit swapped from Member A’s TMG Balance Record to $10 in Stored Credit in Member B’s TMG Balance Record.

The above diagram illustrates the only possible way for Stored Credit Swaps to occur between Members in the TEL.mobi Group’s Closed Loop Ecosystem, over the TEL.mobi “TITAN” System.

 

That is, the Stored Credit belonging to Members does not, in fact, move at all. It remains static in the same Bank Account. Only the record of the amount of Stored Credit held by each of the Members – representing how much of the Stored Credit is in the Account he/she owns – is altered.

 

As such, no “Transfer” of any description occurs, because the Stored Credit remains static in exactly the same place in exactly the same Bank Account. All that occurs is that the electronic ledger-entries showing the amounts of Stored Credit owned by the Members alter.

 

This is why it is possible to “Top-Up” another Member’s Account or do an ICLM Transaction within 1/100th of a second 24/7/365 – whether the other Member is sitting next to you, or is on the other side of the world.

 

The method shown in the diagram above is a “Mobile Operator Stored Credit Swap” or “MOSCS”, which is what enables Top-Up Transfers and/or ICLM Transactions to be carried out so safely and instantaneously on the TEL.mobi Group Platform.

 

 

Diagram of a Member’s Refund Transfer


  1. Member A sends a Refund Transfer Request for $10 of his/her Stored Credit.
  2. System checks Stored Credit Balance and History; Webtel.mobi Verifies. If all OK, System sends request to Bank to Refund.
  3. Bank where TMG Members’ Stored Credit is held does a Refund Transfer of $10 Stored Credit to Bank Account of Member.
  4. $10 of Stored Credit is removed from Member’s TMG Balance Record.

The above diagram illustrates the only possible way for Stored Credit can leave the TEL.mobi Group’s Closed Loop System other than being utilized to access and use the Primary Services – being Mobile and Landline Telephony and texts.

 

Because Stored Credit always remains the property of its owner (the Member), the Member can request a Refund of the Stored Credit at any time, and Webtel.mobi / the TEL.mobi Group is legally obliged to comply. This applies in all situations where Prepaid Credit has been provided to a Service Provider as Stored Credit. In many cases, Service Providers do not respond rapidly, but Webtel.mobi has always done so, and has upgraded its system to place the control of Members’ own Stored Credit back in their hands.

 

As such, TEL.mobi Group Members can initiate a Refund Transfer themselves, from within their own Accounts, to have their Stored Credit in their Accounts returned to them, as long as all Know Your Client and Anti Money Laundering requirements have been adhered to by the Member (See the “ICLM Booklet” for more details)

 

 

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  1. OVERVIEW OF THE “ICLM” DIRECT-TO- MOBILE-BILL SERVICE AND “TITAN” SYSTEM
  1. ICLM Service Overview:
  1. The mechanism used in the TEL.mobi Group’s ICLM Direct-to-Mobile-Bill Service is the same one that is used in the TEL.mobi Group’s “Top-Up Transfer” service.
     
  2. That is, it is a Mobile Operator Stored Credit Swap (“MOSCS”), where two or more Members within the Closed-Loop TEL.mobi Group system simply swap Stored Credit between one another.
     
  3. As such, there is, in fact, no “Transfer” in the traditional sense of the word – because the Stored Credit that is swapped does not even move out of the Bank Account in which Members’ Stored Credit is kept, and no transfer between different Banks or different Bank Accounts occurs. The Stored Credit remains static, and just the electronic ledger-entry of the amount of Stored Credit owned by the parties in the MOSCS is instantly altered.
     
  4. With an ICLM Direct-to-Mobile-Bill transaction, it is similarly not a “Payment” in the traditional sense of the word. This is because, again, although the electronic ledger balances of Stored Credit in the Accounts of the two or more Members are instantly altered to reflect a debit on one side and a credit on the other, no Stored Credit moves out of the Account where Members’ Stored Credit is held.
     
  5. As such, both the “Top-Up Transfer” and the “ICLM Direct-to-Mobile-Bill” Transactions in fact represent merely a Mobile Operator Stored Credit Swap (“MOSCS”) between Members of the Closed-Loop system, and the only differences are that:
  • “Top-Up Transfers” are used to top up other Members’ Accounts for making telephone calls.
     
  • “ICLM Direct-to-Mobile-Bill” Transactions are used as a substitute payment method for non-Telephony goods or services.
     
  1. Moreover, due to the fact that:
  • Stored Credit loaded onto TEL.mobi Group accounts remains the property of the Account Holder until used, and
     
  • Falls completely within the international eCommerce Sector, and
     
  • Because the Stored Credit can never leave the Closed-Loop system unless Refunded, and
     
  • Because no third parties outside the Intra-Closed-Loop Member are involved, no third party-Bank Accounts are involved, and no transfer of money between Bank Accounts is involved – at all, and
     
  • All that therefore occurs in an ICLM Transaction is a that Stored Credit is swapped in an MOSCS between Members of, on and in a Closed-Loop system, which Stored Credit remains static before, during and after a swap, and
     
  • This ICLM Transaction done by means of a MOSCS represents only an electronic ledger-entry alteration of Stored Credit ownership in Members’ TEL.mobi Accounts and there is therefore no “Transfer” of anything, ever;
     
  • There are therefore no limits to the amount of Stored Credit that can be loaded by a Member or swapped between Members in an ICLM Transaction by means of a MOSCS – whether for a Top-Up Transfer or ICLM Direct-to-Mobile-Bill transaction.
     
  1. The only limits applied are when Stored Credit leaves the Closed Loop system for a Refund Transfer, and these are the limits that are outlined in the Refund Transfer Rules.

 

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  1. ICLM Transactions Overview:
  1. All that is needed for any person or entity to immediately begin using the TEL.mobi Group’s ICLM Direct-to-Mobile-Bill Services (“ICLM Services”) is to join the TEL.mobi Group as a Member. Nothing more is required, because the system has been built to automatically take care of the myriad other integration requirements present in other similar services.
     
  2. As such, all integration, notification, confirmation, records and other actions that usually take a great deal of time, and are costly and unwieldy, have been totally removed for TEL.mobi Group Members, because the ICLM System does all of this automatically and immediately.
     
  3. Moreover, it does this all with an extremely high level of security, and completion of all transactions within 1/100th of a second.
     
  4. Carrying out an ICLM Direct-to-Mobile-Bill Transaction uses the same facility as topping up another TEL.mobi Group Member’s Prepaid Telephone account – that is, the “Top-Up Transfer” facility. Both of those actions represent, in fact, simply an MOSCS Stored Credit Swap between Members within the TEL.mobi Group Closed Loop system.
     
  5. All that any Member – whether a private entity or a large organization – needs to be able to receive an ICLM Service Transaction is to provide or advertise their/its ITAN number + Registered Mobile number.
     
  6. All that any Member – whether a private entity or a large organization – needs to be able to send an ICLM Service transaction is to know the ITAN number + Registered Mobile number of the person/entity that the Member wants to do an ICLM service transaction to.

 

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  1. The “TITAN” System Overview:
  1. The TEL.mobi Group’s ICLM Transactions – and all other TEL.mobi Secondary Services related to ICLM Direct-to-Mobile-Bill Services – function on and through the Webtel.mobi and TEL.mobi Group’s “TITAN” System.
     
  2. The name “TITAN” System stands for the TEL.mobi ITAN System (with “ITAN” standing for Inter-TEL.mobi Account Number). The Webtel.mobi System generates and allocates every Member a unique ITAN Number when they join the TEL.mobi Group.
     
  3. The TITAN System is a proprietary Webtel.mobi and TEL.mobi Group system, which is similar to the SWIFT and SEPA systems.
     
  4. The TEL.mobi Group generates, assigns and issues a unique and permanent ITAN Number for each Member automatically on joining the TEL.mobi Group.
     
  5. The Member’s unique ITAN Number is linked to the Member’s unique Registered Mobile Number and the Member’s Name.
     
  6. The combination of unique ITAN Number of each Member together with the unique Registered Mobile Number of each Member ensures that an ICLM transaction will go to the exact Member to which it is intended.
     
  7. For added security, when a Member’s ITAN Number and Registered Mobile Number are entered, the person carrying out the transaction is prompted too click a “Verify” button, which instantly checks that the specific ITAN Number matches with the specific Registered Mobile Number.
     
  8. If the unique ITAN Number is correct and if it matches exactly with the Registered Mobile Number to which it is connected (and it is only possible for one such combination to exist on the entire system) then the name of the person / entity is displayed and the Transaction can continue.
     
  9. If there is any error in inserting (wrong ITAN/Mobile numbers or mismatched ITAN/Mobile numbers), the Transaction cannot proceed, and the Member is prompted to check and revise the ITAN and/or Mobile numbers.
     
  10. As such, Transactions can only ever go to the intended person/entity; and the possibility for Transactions going to the wrong Member due to the insertion of wrong ITAN Numbers, wrong Member names or the right names but wrong person (in the case of multiple Members having the same name) is completely removed.
     
  11. To ensure that the correct ITAN Numbers and Registered Mobile Numbers are sent to any Member wanting to do an ICLM, the TEL.mobi system has been constructed so that from the “My ITAN” facility, a recipient’s Mobile Phone Number and/or Email address can be inserted, a “Send” button clicked on, and the correct ITAN Number and Registered Mobile Number will be automatically sent. This is to ensure that the correct number is easily sent, without the possibility of mistakes in writing the number down manually. It is recommended that this is sent by email, to enable a “copy & paste” of the number by the recipient.

 

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  1. Setup and Advantages of the TITAN System for ICLM Transactions:
  1. The full ability to make or receive ICLM Transactions is available to all TEL.mobi Group Members, instantly and Free, as soon as they join as Members of the TEL.mobi Group and verify their Mobile Phone Numbers.
     
  2. All that is required for Members to be able to send and/or receive ICLM Transactions is to join as a Member of the TEL.mobi Group, and then display their ITAN Number and Registered Mobile Number or send them to other Members – nothing more.
     
  3. All other Members can – once they have joined – instantly send or receive ICLM Transactions from any other Member of any TEL.mobi Group VSMP; instantly, 24/7/365.
     
  4. This facility is immediately available to all Members once they have joined.
     
  5. Members do not have to apply for their own VSMPs or apply to be to be Independent Agents to fully utilize the complete ICLM system, and accrue all the advantages of using it.
     
  6. No equipment, devices or actions at all – other than Membership of the TEL.mobi Group and possession of a Mobile Phone – is required

 

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  1. THE ICLM SERVICE IS AN ALTERNATIVE / ADDITION TO EXISTING PRODUCTS AND SERVICES
  1. The ICLM Service is an Alternative to Debit Cards / Prepaid Cards:

Debit Cards and Prepaid Cards work on the same Legacy System platforms and systems as Credit Cards. These systems were first introduced in the 1960s – very long before the advent of the Internet and Mobile Telephony. The foundation system and structure for these Legacy Systems is – in terms of 21st Century Technology and Possibilities – Ancient.

 

Moreover, as with all Legacy Systems, current Debit Card Systems are in the situation where, because of the nature of the Foundation Structuring:

  1. Their Systems cannot effectively compete with modern technology and products,
     
  2. And can therefore only apply ad-hoc fixes and upgrades to their existing Legacy Structure,
     
  3. But cannot rebuild in totality (which is needed) because if doing so they will lose their existing clients and revenues while doing so.
     
  4. As such, they cannot effectively modernize as is required.

The ICLM service is a complete and superior Alternative to Debit Cards. The Stored Credit is retained in the Member’s TEL.mobi Account (just as it is held in a Debit Card’s account), but that is where the similarities end, because the ICLM Service:

  1. Is more secure than a Debit Card Service.
     
  2. Is much lower in cost than Debit Card services.
     
  3. The Service is free to join and use – there are no “Card Fees”.
     
  4. Allows Members to carry out Currency Conversions at very favorable rates at their choice instead of – as with Debit Cards – enforcing unfavorable rate Currency Conversions.
     
  5. Is impossible to clone.
     
  6. Cannot be lost – because if the Member’s Phone is lost the Member’s complete TEL.mobi Account is still immediately accessible with another phone.
     
  7. Cannot be stolen – because even if a Member’s Phone is stolen, the Member’s complete TEL.mobi Account is still immediately accessible with another phone.
     
  8. Is almost impossible to suffer fraud due to the Multi-Factor Authentication and TAN Number sent to Members’ Phones prior to a Transaction being authorized.
     
  9. Can be used and is accepted in places where there are no Card Terminals or ATMs.

In short, it is a much lower cost, more convenient, safer and far more multifunctional product that renders Legacy System Debit Cards redundant.

 

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  1. The ICLM Service is an Alternative to “Cards on Phones”:
  1. Various Products and Services that call themselves “Mobile Payments” have come onto the market. These products are, however, neither “Mobile” nor “Payments”, and nor are they “new” products or services at all. They are simply “Cards on Phones”.
     
  2. They are just a Digital Version of a Debit/Credit Card, saved onto a Smart Phone. This is like saving a Paper Address Book as a Digital Address Book onto a Smart Phone, and is simply a Data Capture and Replication exercise, that can be done on any Electronic Device.
     
  3. This does not represent a new business type or model any more than carrying a Card in a Purse could constitute making the Purse a new business type that its owners can call by a business name (i.e. “Purse Pay”), or that having a pouch for a Card in an Aircraft would enable its owners to call the aircract by a new business type (i.e. “Winged Wallet”).
     
  4. Moreover, these “Cards on Phones” versus ICLM Services have even more disadvantages than those already incurred by Standard Cards, including:
  • They only work on Smart Phones. However, 60% of the Mobile Phones in the world are pre-Smart Phones, so they can never achieve proper penetration.
     
  • They require the owner to have a Debit/Credit Card, or to qualify to obtain a Debit/Credit Card. They are therefore inaccessible to the 2.5 Billion Unbanked Persons internationally.
     
  • They do often do not function in countries outside the issuing country.
     
  • They only work on contactless systems, which are less than 1% of all outlets worldwide.
     
  • They are highly susceptible to fraud. If the Phone is lost or stolen – or the Card is cloned or stolen Card data obtained and placed onto another Phone – fraudulent contactless payments up to GBP 30 can be carried out without ID. This means that either the owner will lose a great deal of money, or the Merchants where it is used will receive a great many Chargebacks.
     
  • Often these products state that they do not apply charges. This is misleading, They receive a Percentage of the Charges to Merchants, Charges to Clients and Hidden Proceeds from Unfavorable Forex Conversions back from the Card Companies
     
  • Other than this, every single one of the disadvantages of Debit Cards as previously listed applies to these “Cards on Phones”.
     
  1. The TEL.mobi Currency Conversion Facility and ICLM Service completely outclasses this “Card on Phone” product in every way – from extremely favorable Live Currency Rates, to instant Pure Peer to Peer ICLM Transactions anytime and anywhere to any Member in 1/100th of a Second, using any Smart Phone or pre-Smart Phone, worldwide, 24/7/365.
     
  2. All these done at rates and speeds that are unmatchable by even the Legacy Card Companies issuing the Cards – whether the Cards are on Mobile Phones or in peoples’ pockets or anywhere else. The actual business is the Card Service, not the Phone or Purse, or Pocket or Hand in/on which it is simply carried. The carrying method is not a business.

 

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  1. The ICLM Service is an Alternative to many “FinTech” Companies:
  1. “FinTech” Companies that deal with Funds Transfers do not have unique products or services of their own. This is because in order for them to function, they have to piggyback off the infrastructure of a Bank, Financial Institution or Card Company.
     
  2. As such, all that they really represent is a methodology for feeding clients into these existing Bank, Financial Institution or Card Companies’ pipelines for their existing services.
     
  3. Their products therefore represent only the provision of a new type of feeding mechanism into these pipelines, accompanied by marketing.
     
  4. They still have to charge their clients the fees that these Principal Entities whose infrastructure they use charge, as well as their own fees. Their lead times are also added on tot e lead times of the Principal Entities.
     
  5. If they advertise that their services are at no cost or low cost, it only means that the Principal Entities are paying them a percentage of the transaction fees, or the hidden cost embedded in Unfavorable Forex Conversion rates.
     
  6. Those that function off Mobile Phone platforms in reality only function off Smart Phone Platforms – thereby excluding the 60% of Mobile Phones in circulation that are pre-Smart Phones. They also usually function only off two Smart Phone platforms, thereby excluding many of the other platforms.
     
  7. Moreover, the only thing that they can offer over and above the existing Legacy System Banks, Financial Institution or Card Companies whose infrastructure they need to function and whose pipelines they feed their clients into is, perhaps, the convenience of the client carrying out the activity on a Smart Phone.
     
  8. They are not, however, New Products or New Services. They are just Banks, Financial Institutions or Card Companies on a Phone.
     
  9. As such, they carry with them all the disadvantages of these entities – as listed previously in this Section and as listed in the later “Legacy Systems” Section – in comparison to the TEL.mobi Platform and the ICLM Service.
     
  10. The TEL.mobi Group Platform and ICLM Service outclasses them in terms of Security, Versatility, Low Costs, very favorable Forex Conversion Rates, Ease of Use and MOSCS Transfers in 1/100th of a Second in a Pure Peer to Peer Transaction.
     
  11. Moreover, the TEL.mobi Platform and ICLM Service is available to all persons with any Mobile Phone – Smart phone on any Platform and pre-Smart Mobile Phones – worldwide.

 

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  1. The ICLM Service is an Alternative to Remittances Companies:
  1. Remittance Companies are, essentially, the same as Money Transfer Companies, and function in exactly the same way. The are almost exclusively white-labels which only have a Branding Presence, but use the Infrastructure and Facilities of other Principal Entities to do Forex Conversions and Transfers.
     
  2. They have to add their own additional costs to the existing costs of the Principal Entities’ whose services and infrastructure they use. They also add their own processing time onto the existing processing time of the Principal Entities whose services they use. They are really just more expensive and slower versions of their Principal Entities’ services.
     
  3. This is an old business model, functioning off Legacy Systems.
     
  4. Remittances Companies often advertise low costs or no costs or better costs than others, but this is not possible in reality, because they have to charge the costs of the Principal Entities plus their own. Usually in the small print of their agreements they have many more Costs and more Transfer Time than they advertise in their marketing material.
     
  5. They also often hide their high costs in very unfavorable Currency Conversion rates (See the “Legacy Systems” section for an example).
     
  6. Such companies also only work in “Office Hours” and on “Weekdays”, and even if they have online systems to key in Transaction Data after hours or over weekends / holidays, these Transactions are only actioned later during “Working Hours” and/or “Weekdays”.
     
  7. A Primary Market for Remittances Companies is Migrant Workers and Unbanked Persons, who often have very little option due to having to deal with cash (which also makes remittances companies susceptible to Money Laundering).
     
  8. This business model is old, and it functions off the backbone of outdated Legacy Systems.
     
  9. The ICLM System renders this type of Remittance Company business model redundant.
     
  10. Unbanked / Migrant Worker Members can acquire TEL.mobi Top-Up Vouchers to convert cash to Digital Stored Credit on the TEL.mobi Platform, and then utilize all its Facilities.
     
  11. The TEL.mobi Currency Conversion Facility provides extremely favorable Live Currency Rates, 24/5/365, totally under the Member’s control, requiring just a Mobile Phone.
     
  12. The ICLM Service then enables Members to do an instant Transfer of their Stored Credit in an MOSCS, in 1/100th of a second – also just by having a Mobile Phone – in a Pure Peer to Peer Transaction to any other TEL.mobi Group Member, anywhere, 24/7/365.
     
  13. The Recipient can then redeem his or her Stored Credit with a TEL.mobi Group VSMP or Independent Agent at low rates.
     
  14. Once the TEL.mobi Group’s “Stored Credit Refund Machines” (“SCRMs”) come into operation, Refund Withdrawals from the SCRMs to a maximum of GBP 300 – or the equivalent in another currency – per day will also be able to be carried out.

 

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  1. The ICLM Service is an Alternative to Money Transfer Companies:
  1. There are two types of Money Transfer Company.
     
  2. The first type is a de-facto white-label entity for a Principal Entity Bank or Financial institution. It just uses the infrastructure of The Principal Entity to carry out its business, simply adding more cost and time onto to the Transaction than if the Principal Institution had done it. If it advertises that there is “no transfer cost” or a “low transfer cost”, this simply means that the mark-up is hidden in the very unfavorable Currency Conversion Rate (See the “Legacy Systems” section for an example). This situation also applies to Online Money Transfer Companies. The Primary Uses for such companies are for Unbanked Persons or Cash Transfers (which makes them susceptible to money laundering activities).
     
  3. The second type of Money Transfer Company is one that has its own Bank Accounts in different countries. It receives funds into one of its accounts in one country, and then makes a related amount available from one of its other bank accounts in another country. When doing this, no money is, in fact, transferred. The company just does an arbitrage between its own two accounts. When doing so it applies its own “Conversion Rate”, which is very unfavorable, because it has to have high margins to make this business model profitable. Again, the Primary Uses for such Money Transfer companies are for unbanked persons or Cash Transfers (which make them susceptible to money laundering activities).
     
  4. Both of these business models are very old, expensive and slow Legacy Systems.
     
  5. They provide very unfavorable Currency Conversion Rates, and charge very High Costs.
     
  6. In the case of the first type of Money Transfer Company, they are as slow as the services offered by the Principal Legacy Entity – taking three to five days.
     
  7. In the case of the second type of Money Transfer Company, transfers can be done in one hour to one day, but the costs are extremely high – up to 15% or more due to a combination of Transaction Costs, Commission and unfavorable Forex Conversion Rates.
     
  8. These Companies are also only open for business in “Office Hours” or on “Weekdays”. Even if their online systems allow people to input Transaction Data “After Hours” or “Over Weekends”, they are only actioned when the office is open.
     
  9. The ICLM System renders both of these old Legacy systems completely redundant.
     
  10. Unbanked Members can acquire TEL.mobi Top-Up Vouchers to convert cash to Digital Stored Credit on the TEL.mobi Platform, and then utilize all of its Facilities.
     
  11. The TEL.mobi Currency Conversion Facility provides extremely favorable Live Currency Rates, 24/5/365, totally under the Member’s control, requiring just a Mobile Phone.
     
  12. The ICLM Service then enables Members to do an instant Transfer of their Stored Credit in an MOSCS, in 1/100th of a second – also just by having a Mobile Phone – in a Pure Peer to Peer Transaction to any other TEL.mobi Group Member, anywhere, 24/7/365.

 

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  1. The ICLM Service is an Alternative to Forex Conversion Companies:

Only Specialist and Dedicated Online Forex Conversion Companies with their own Liquidity Providers are able to provide the same Currency Conversion rates as the TEL.mobi Group. Most Forex Conversion Companies are not Dedicated Forex Conversion Companies. They are white-label onsellers of Dedicated Forex Conversion Companies’ services, and cannot provide rates that are as favorable as those provided by the TEL.mobi Group and its Dedicated Forex Conversion Partner. Furthermore, even Dedicated Online Forex Conversion Companies cannot provide services to the 2.5 Billion persons in the Unbanked Market. They also do not provide 24/5/365 services to clients because although their systems may be available online – apart from very few of them worldwide – they work only during Office Hours and Weekdays. Therefore, they will not process the Forex Conversions until after they come in, even if the details have been keyed into their online systems. By that time, the rates may have changed. TEL.mobi Members can, however, access the Currency Conversion Facility 24/5/365 from anywhere at any time simply by having a Mobile Phone, and do an immediate Currency Conversion with live rates, which is immediately executed. As such, the TEL.mobi Group’s Services in this regard are not easy to beat even by Dedicated Forex Conversion Companies, and the facility to instantly carry out a live Forex conversion, and then implement an ICLM Transaction in 1/100th of a second, cannot be matched by any Forex Conversion Company in the world.

 

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  1. The ICLM Service is an Alternative to Bureaus de Change:
  • Bureaus de Change provide even more unfavorable Currency conversion Rates than do Debit Card, Travel Money Cards or other Legacy System entities. This is because their essential Business Model and structuring has remained unchanged for more than a Century. As such, when compared to modern 21st Century Services and Products – especially since the advent of the Internet and Mobile Telephony – they are so outdated and unfit-for-purpose as to be in the Stone Age. Bureaus de Change are the retail front-doors of existing Legacy System entities, and their characteristic is that they load more charges onto the already-unfavorable rates that they get from their Legacy System Providers, making their rates extremely unfavorable. They have no redeeming factors in terms of Currency Conversions other than that they provide a means through which to do a Currency Conversion from Cash to Cash (which also carries significant potential for money laundering), or Currency Conversions from Card to Cash.
     
  • The TEL.mobi Platform and ICLM Service render Bureaus de Change redundant. Insofar as Currency Conversions are concerned, there is no comparison possible due to the TEL.mobi Platform’s total outclassing of Bureaus de Change Currency Conversion rates through the provision of instant Live Rate Currency Conversions to all of its Members at – compared to Bureaus de Change – extremely favorable rates. For conversions of currency in that is held in cash, the TEL.mobi Group similarly renders Bureaus de Change redundant through the ability for TEL.mobi Group Members to buy Top-Up Vouchers, load the Stored Credit onto the TEL.mobi Account, and then carry out an instant Currency Conversion at much more favorable rates that will even be obtained from a Bureau de Change (and also with no chance of anonymous Money Laundering). The Stored Credit on the Member’s TEL.mobi Account can then be used in ICLM Transactions, and – once the TEL.mobi Group’s “Stored Credit Refund Machines” (“SCRMs”) come into operation, Refund Withdrawals from the SCRMs to a maximum of GBP 300 – or the equivalent in another currency – per day will also be able to be carried out.

 

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  1. The ICLM Service is an Alternative to Travel Money Cards:
  • A Travel Money Card is just a Debit Card / Prepaid Card that has had Stored Credit loaded onto it in a foreign currency. This Stored Credit is loaded on at universally unfavorable Rates of Exchange. Moreover, once one currency is swapped for another at Y Rate and loaded onto the Card, the Card Holder will potentially incur a huge additional currency loss thereafter if the currency’s value then becomes 2 X Y, because the exchange has already been done
     
  • The TEL.mobi ICLM Service enables Members to only Convert Currencies when they want to or need to, at any time, themselves, at very favorable live rates. As such, they will always only need to Convert Currencies when they need to, can Convert Currencies at any time 24/5/365, and do so using very favorable Live Rates. All they need to be able to do this immediately is to be a TEL.mobi Group Member, and to have a Mobile Phone. The ICLM Service completely removes and negates the need, purpose or function of any Travel Money Card (Note: When the TEL.mobi Group’s “Stored Credit Refund Machines” (“SCRMs”) come into operation, travelers will – besides being able to carry out Currency Conversions for ICLM Transactions – also be able to carry out Currency Conversions to do Refund Withdrawals from the SCRMs to a maximum of GBP 300 – or the equivalent in another currency – per day).

 

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  1. The ICLM Service is an Addition for Letter of Credit Companies:
  1. Companies that specialize in obtaining Letters of Credit for clients and Managing Trade or Sales/Purchase Transactions between Clients usually broker Letters of Credit for these Transactions.
     
  2. However, Letters of Credit sometimes take a long time to issue, the entities that issue and redeem them do not work over “Weekends” / “After Hours” / during “Holidays” (which vary per country and Time Zone), provide very unfavorable Forex Exchange Rates and, furthermore, charge up to 16% or more of the Face Value of the Letter of Credit as the Service Fee for providing it.
     
  3. This is an extraordinarily old Legacy System, which has remained essentially unaltered for Centuries – let alone predating the advent of the internet and Modern Mobile Phone services. All that has changed in that time is that the costs have increased from High to Astronomic.
     
  4. The ICLM Service is an Additional Resource for such Companies for their Transactions that require Letters of Credit, as follows:
  • The Company forms its own VSMP.
     
  • The Company’s Management establishes their own Accounts on their VSMP.
     
  • The Company’s personnel receive the Stored Credit for the Transaction into their Account from the TEL.mobi Member who is the Buyer, and Retains it there until the Commodity is Delivered.
     
  • Once the Commodity is Delivered, Accepted and Signed Off on, the Stored Credit in the Company Management Member’s account is sent to the TEL.mobi Member who is the Seller.
     
  1. The advantages for Companies of this system over Standard Methods include:
  • Transactions can be set up instantly instead of taking weeks.
     
  • Transactions can be implemented 24/7/365 with no blocks “After Hours” / “Weekends” / “Holidays”.
     
  • Transactions take 1/100th of a Second to complete, as opposed to days.
     
  • Transactions provide very Favorable Forex Conversion Rates instead of Unfavorable Rates.
     
  • Transactions cost a total of 0.5% instead of 16% or more (ICLM Transactions cost 0.25% when of Letter-of-Credit-size Transactions – therefore 2 X 0.25% Transactions)
     
  • This system speeds up the implementation and completion of such Transactions exponentially, provides better Forex Rates (i.e. saves money), costs exponentially less, provides very high security, and works 24/7/365.
     
  • All Agreements, Standards, terms and other Security, Control, Management and other Control Aspects of such Transactions can remain as they are, only modified to reflect the Alternative Method for swapping of Stored Credit.
     
  1. All aspects of these Transactions are Transparent, and – even more than with the Standard Method – are under the control of the TEL.mobi Members who are the Company Managing the Transaction and the two other Parties to the Transaction – with full visibility of all aspects at all times.

 

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  1. The ICLM Service is an Addition for Escrow Companies:
  1. Companies that specialize in providing Escrow Services for clients often provide or set-up Escrow Accounts for their clients, and manage these services.
     
  2. However, these services – functioning off Legacy Systems as they do – result in Transfers taking a long time to arrive in Accounts, and the entities where the Escrow Accounts are held do not work over “Weekends” / “After Hours” / during “Holidays” (which vary per country and Time Zone), provide very unfavorable Forex Exchange Rates and, furthermore, charge significant fees for providing the Escrow Facility.
     
  3. This is also an extraordinarily old Legacy System, which has remained essentially unaltered for Centuries – let alone predating the advent of the internet and Modern Mobile Phone services. All that has changed in that time is that the costs have increased substantially.
     
  4. The ICLM Service is an Additional Resource for such Companies for their Transactions that require Escrow Accounts, as follows:
  • The Company forms its own VSMP.
     
  • The Company’s Management establishes their own Accounts on their VSMP.
     
  • The Company’s personnel receive the Stored Credit for the Transaction into their Account from the TEL.mobi Member who is the Buyer, and Retains it there until the Transaction is completed.
     
  • Once the Transaction is Completed, Accepted and Signed Off on, the Stored Credit in the Company Management Member’s account is sent to the TEL.mobi Member who is the Seller.
     
  1. The advantages for Companies of this system over Standard Methods include:
  • Transactions can be set up instantly instead of taking weeks.
     
  • Transactions can be implemented 24/7/365 with no blocks “After Hours” / “Weekends” / “Holidays”.
     
  • Transactions take 1/100th of a Second to complete, as opposed to days.
     
  • Transactions provide very Favorable Forex Conversion Rates instead of Unfavorable Rates.
     
  • Transactions cost a total of 0.5% instead of the very much higher fees levied for standard Curated Escrow Services (Transactions requiring Escrow Facilities – such as Property Transactions – are high. ICLM Transactions cost 0.25% for this type of Transaction – therefore 2 X 0.25% Transactions)
     
  • This system speeds up the implementation and completion of such Transactions exponentially, provides better Forex Rates (i.e. saves money), costs exponentially less, provides very high security, and works 24/7/365.
     
  • All Agreements, Standards, terms and other Security, Control, Management and other Control Aspects of such Transactions can remain as they are, only modified to reflect the Alternative Method for swapping of Stored Credit.
     
  1. All aspects of these Transactions are Transparent, and – even more than with the Standard Method – are under the control of the TEL.mobi Members who are the Company Managing the Transaction and the two other Parties to the Transaction – with full visibility of all aspects at all times.

 

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  1. Other Uses

The TEL.mobi Platform is merely that – a Platform.

 

The TEL.mobi Group itself does not provide any of the services previously listed in this Section. It only provides its Telephony Services.

 

However, the Platform itself is available to all TEL.mobi Group Members – whether they are Private or Corporate/Business Members.

 

Moreover, all of the Facilities within the TEL.mobi Group’s Platform are available to all of its Members, to utilize as they wish to as long as they adhere to the Rules of using the Services, and the laws applicable to them in their countries / industries / sectors.

 

There are many and multiple uses for the Platform and the Services, which people, companies and organizations are able to work out for themselves – because they know their own industries and businesses well themselves. They are therefore able to establish whether or not the TEL.mobi Group’s Platform and/or any of its products may be useful, helpful or applicable, and if so, where and how.

 

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  1. EXAMPLES OF THE ICLM SERVICE’S ADVANTAGES OVER STANDARD SERVICES

All of the advantages listed in the preceding Section E apply to all Business / Commercial entities. However, over and above those, there are even more advantages for different specific Business / Corporate / Other sectors. Summaries of some of these additional advantages are as follow:

  1. Website and eCommerce Transactions:

ICLM Transactions are an alternative to Standard Payment Gateways in every way. Moreover, they can be put up and be running instantly on any Website or eCommerce site instantly and free – with no integration time, cost or other requirements – because the full ICLM Service is available to every TEL.mobi Group Member immediately upon Joining. A summary of many of the advantages of using ICLM Transactions as an alternative to Standard Payment Gateways are as follow:

  1. Long Integration Time versus No Integration Time
  • Standard Payment Gateways can take from one week to six weeks to integrate their Payment Gateway into a website or eCommerce site.
     
  • With ICLM Transactions, there is no integration requirement at all. ICLM Transactions can be used by the Website or eCommerce site immediately by simply by displaying the ICLM Acceptance Notification.
     
  1. Integration Cost versus No Integration Cost
  • Standard Payment Gateways often charge – sometimes significantly – to integrate their Payment Gateway with a Website or Ecommerce site.
     
  • With ICLM Transactions, there is no integration cost at all. The total ICLM System is already integrated into a Member’s TEL.mobi Account, free.
     
  1. Monthly Gateway Fees versus No Monthly Gateway Fees
  • Standard Payment Gateways often charge monthly Gateway Fees.
     
  • To join as a TEL.mobi Group Member and immediately use the ICLM Transaction Service on a Website or eCommerce site is completely free.
     
  1. High Transaction + % Fees versus No Transaction Fees and Low % Fees
  • Standard Payment Gateways often charge a Transaction Fee as well as a Transaction Percentage Fee of up to 2% or 3% (or more) per transaction.
     
  • With ICLM Transaction there is no Transaction Fee at all (they are free), and there is only a flat Transaction Percentage Fee of 0.25% to 1%.
     
  1. Cannot Accept Foreign Currencies versus Can Accept All Foreign Currencies
  • Standard Payment Gateways are often unable to accept many different currencies, limiting the market of Websites and eCommerce sites, or otherwise subjecting them to unfavorable forex rates and currency risk for settlement.
     
  • With ICLM Transactions, Websites and eCommerce sites can accept any currency with settlement in that currency – opening their market to worldwide currencies and completely removing forex conversion losses and currency risk.
     
  1. Unfavorable Forex Conversions versus Very Favorable Forex Conversions
  • If Standard Payment Gateways accept payments in many currencies, they still often settle to the Websites and eCommerce sites in limited currencies – often at unfavorable forex conversion rates to the Websites and eCommerce sites and the clients of those sites.
     
  • With ICLM Transactions, any currency can be accepted, and Websites and eCommerce sites – and their clients – can do their own forex conversions within their own TEL.mobi Accounts at very favorable rates, to completely remove the “hidden double costs” of forced unfavorable forex conversion rates.
     
  1. Limited to Local Market versus Access to an Unlimited Global Market
  • Many Standard Payment Gateways are limited to one country or region, thereby significantly limiting the Website’s or eCommerce site’s potential market.
     
  • With ICLM Transactions, the potential market opened up is that of all of the billions of Mobile Phone Owners worldwide; thereby providing websites and eCommerce sites with the largest potential market in the world – the entire Global Market.
     
  1. No Settlement “After-Hours” & Weekends versus Full Settlement 24/7/365
  • Standard Payment Gateways do not provide Settlement “after working hours” or over weekends.
     
  • ICLM Transactions provide Full Settlement 24 hours per day, seven days per week, 365 days of the year.
     
  1. No Access to 2.5 Billion Unbanked vs Full Access to 2.5 Billion Unbanked
  • Standard Payment Gateways can only be used by Banked Persons, who have Bank Cards or use Alternative Payment Methods / Wallets that are linked to Bank Accounts. This therefore totally excludes the 2.5 Billion Unbanked Persons internationally from being potential clients of Websites and eCommerce Sites.
     
  • The TEL.mobi Group’s Global Top-Up Vouchers bring all Unbanked People into the 21st Century Digital Economy by enabling them to obtain digital Stored Credit and carry out ICLM Transactions. The ICLM Service therefore instantly adds the 2.5 Billion Unbanked Persons internationally as potential clients for Websites and eCommerce Sites.
     
  1. Settlement Delays of 2 – 30 Days vs Full Settlement in 1/100th of a Second
  • Standard Payment Gateways delay Settlement to Websites and eCommerce sites from two days to 30 days.
     
  • ICLM Transactions provide Websites and eCommerce Sites with instant Settlement in 1/100th of a second.
     
  1. Chargeback Risk and Losses versus No Chargeback Risk or Losses
  • Standard Payment Gateways – and the Websites and eCommerce Sites that use them – are susceptible to potentially large-scale losses due to Chargebacks.
     
  • ICLM Transactions render Chargebacks impossible, and totally remove the potential for Websites and eCommerce Sites to suffer losses from Chargebacks.
     
  1. Retention of funds versus No Retention of Funds
  • Standard Payment gateways retain various percentages and sums of funds from Websites’ and eCommerce Sites’ Revenues to guard against Chargebacks and fraud costs.
     
  • ICLM Transactions provide 100% of Websites and eCommerce Sites’ Revenues to them in full, instantly in 1/100th of a second; due to the removal of chargeback and other risk factors by the ICLM System and process.

 

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  1. Commercial and Business Transactions – Retail and Wholesale:
  1. Payment Systems Cost & Time versus No Payment Systems Cost & Time
  • For New Businesses there is a substantial cost involved in acquiring the Equipment and Systems required for them to accept Payments, and a lead-time required for installing and preparing them / training on them. For existing Businesses, the same applies when they add additional Payment Systems to their existing ones.
     
  • ICLM Transactions can be accepted immediately, with no Systems or Equipment cost or lead-time required at all. All that is required is a Mobile Phone and the display of the “ICLM Acceptance Notification”.
     
  1. High Card and Terminal Fees versus No Card or Terminal Fees
  • Businesses accepting payment by Cards incur a Card Fee of 2% to 3% or more, as well as Terminal Fees. They are also subject to the Card Service going offline / Terminal breaking and Cards being declined
     
  • With ICLM Transactions, there is no Terminal required, so that expense is saved. There are not fees of 2% to 3% or more – only a flat fee of 0.25% to 1% per ICLM Transaction. The only things required for clients or business owners are that each party has a Mobile Phone.
     
  1. No Settlement “After-Hours” & Weekends versus Full Settlement 24/7/365
  • Card Companies do not provide Settlement “after working hours” or over weekends.
     
  • ICLM Transactions provide Full Settlement 24 hours per day, seven days per week, 365 days of the year.
     
  1. Settlement Delays of 2 – 30 Days versus Full Settlement in 1/100th of a Second
  • Card Companies and some other forms of payment often delay Settlement to businesses from two days to 30 days.
     
  • ICLM Transactions provide businesses with instant Settlement in 1/100th of a second.
     
  1. Chargeback Risk and Losses versus No Chargeback Risk or Losses
  • Businesses are susceptible to potentially large-scale losses due to Chargebacks.
     
  • ICLM Transactions render Chargebacks impossible, and totally remove the potential for Businesses to suffer losses from Chargebacks.
     
  1. Retention of funds versus No Retention of Funds
  • Card Companies and other forms of Payment often retain various percentages and sums of funds from Businesses’ Revenues to guard against Chargebacks and fraud costs.
     
  • ICLM Transactions provide 100% of Businesses’ Revenues to them in full, instantly in 1/100th of a second; due to the removal of Chargeback and other risk factors by the ICLM System and process.
     
  1. Cannot Accept Foreign Currencies versus Can Accept All Foreign Currencies
  • Some Businesses are unable to accept many different currencies, limiting their market.
     
  • With ICLM Transactions, Businesses can choose to accept multiple currencies, or request their clients to do Currency Conversions on their TEL.mobi Accounts and do an ICLM Transaction in the Business’s preferred currency.
     
  1. Limited to Local Market versus Access to an Unlimited Global Market
  • Many Businesses operating with standard payment equipment are limited to one country or region, thereby significantly limiting their potential market.
     
  • With ICLM Transactions, the potential market opened up to Businesses is that of all of the billions of Mobile Phone Owners worldwide; thereby providing Businesses with the largest potential market in the world – the entire Global Market.
     
  1. Unfavorable Forex Conversions versus Very Favorable Forex Conversions
  • If Businesses’ clients pay from different currency jurisdictions, standard currency conversions for them are generally very unfavorable, and can result in either the business losing funds because of the unfavorable conversion rate, or the client paying more because of the unfavorable conversion rate.
     
  • With ICLM Transactions, Businesses and their clients can do their own Forex Conversions within their own TEL.mobi Accounts at very favorable rates, to completely remove the “hidden double costs” of forced unfavorable Forex Conversion rates.
     
  1. Admin / Receipts / Shrinkage Costs vs No Admin / Receipts / Shrinkage Costs
  • Businesses incur costs due to the requirement to implement detailed Administration / Receipt / Records, and/or Shrinkage from failure to implement detailed Administration / Receipt / Records processes.
     
  • With ICLM Transactions, every Transaction is recorded in detail, and instantly placed in the Business’s and Client’s “History” Facility, and email and by text – free of charge. This provides a free full Administration / Receipt / Records process for every Transaction; thereby removing the cost for such, processes and/or the personnel required to implement them.

 

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  1. Remittances Sending and Receiving:

Remittances sent by persons in Expatriate Positions or Migratory Work Positions are subject to extreme cost and lose large amounts of their money in the remitting. Moreover, the Recipients of remitted funds are – in some countries – subject to extortion. Other than this, because much of the sending of funds in this market entails movements of cash, this sector is also vulnerable to Money Laundering activities. The TEL.mobi Group’s ICLM Service removes all of these unfavorable circumstances, and also negates the propensity for potential Money Laundering activities. A summary of some of the top-level advantages provided by the ICLM Service is as follows:

  1. Risky Cash Carrying/Transactions versus Safe Digital Stored Credit Transactions
  • Using Legacy Methods, people who are in Migratory Work situations are often compelled to receive and use cash due to being Unbanked. The carrying of cash is risky for both theft and loss, and the transfer of cash (especially Unbanked Recipients) is limited to using Money Transfer companies and “Remittances” companies, which are very expensive. Transactions using cash are also susceptible to Money Laundering activities.
     
  • The TEL.mobi Facilities enable people in Migratory Work situations to immediately and easily exchange their cash for Digital Stored Credit on the TEL.mobi Platform by acquiring TEL.mobi Top-Up Vouchers from TEL.mobi Independent Agents or VSMPs, and loading their Stored Credit onto their TEL.mobi Account. This renders their Stored Credit unable to be lost or stolen, provides them with the high levels of security on the TEL.mobi Group Platform, and also allows them to use the ICLM Transaction Facility for ICLM Transaction to Recipient Members. It also exponentially reduces the possibilities for Money Laundering.
     
  1. Forex Rates Extremely Unfavorable versus Forex Rates Very Favorable
  • Because people in Migratory Work situations are absolutely limited in choice in respect of money transfer to Recipients, they are subject to mandatory and very unfavorable Currency Conversion Rates from the few entities that provide services to and for them. These unfavorable rates can cost the Sender up to 10% or more of their money, and there is no effective escape from this situation.
     
  • By using the TEL.mobi Platform, people in Migratory Work situations have access to very favorable Currency Conversion Live Rates, 24/5/365, at their election. This saves them a very large amount of their money.
     
  1. Money Transfers costing 15%+ versus ICLM Transactions costing 1%
  • Using Standard Money Transfer companies (or “Remittances” companies) is very costly, with the total of costs incurred when sending remittances of up to an effective 15%. Even if lower costs are advertised, there are many hidden costs – including in the unfavorable Currency Conversion rates, which can bring the costs up to an effective 15% (or more) of the funds being transferred. These entities are also closed “After Hours” / during “Weekends” / over “Holidays” and funds cannot be sent at those times. Moreover, Senders have to travel into Towns or Cities to offices to send these funds. Additionally, as these transactions are often made with cash, there is a susceptibility to Money Laundering.
     
  • Using an ICLM Transaction, the total of Stored Credit can be instantly sent by the Sender Member to the Recipient Member at a flat rate of only 1%. They can also be sent at any time of the day or night 24/7/365, and can be sent from any location – wherever the Sender is, using just his/her Mobile Phone. Once Stored Credit is in the TEL.mobi System. Money Laundering activities are almost impossible to carry out undetected.
     
  1. Cash Couriers cost 40% versus ICLM Transaction at 1%
  • Because there is often physical danger for Recipients of Remittances in some countries (see Point 6 below), and because Money Transfer Companies are not available in some locations, many people in Migratory Work situations make use of the services of “Cash Couriers” to transport funds to Recipients. Such services effectively cost the Sender up to 40% of his/her funds in fees and extraordinarily unfavorable Currency Conversion rates, take days or weeks to be completed, and are often lost or stolen. As large amounts of cash are being transported, this method is also susceptible to Money Laundering activities.
     
  • Using an ICLM Transaction, the total of Stored Credit can be instantly swapped with the Receiving Member at a flat rate of only 1%. Once Stored Credit is in the TEL.mobi System. Money Laundering activities are almost impossible to carry out undetected.
     
  1. Long Transfer Times versus Transaction in 1/100th of a Second
  • People in Migratory Work situations using Money Transfer Companies or Remittances Companies can experience lead times of hours to over a week before the funds arrive at their destination for the Recipient. In the case of cash couriers, the lead-time can be from days to weeks, and is insecure, with no fixed arrival date given.
     
  • In the case of people in Migratory Work situations using an ICLM Transfer to a Recipient, this is able to be done in 1/100th of a second,
     
  1. Receipt only at Branches in Cities / Towns / Villages versus Receipt Anywhere
  • In many cases, the Recipients of funds sent by people in Migratory Working situations have to travel very far – to an office or location in a Village/Town/City – to pick up these funds, and these offices are not open “After Hours” / over “Weekends” / during “Holidays”. This introduces another layer of expense and difficulty for Recipients to obtain such funds if they are sent via Money Transfer companies or Remittances companies.
     
  • In the case of people in Migratory Working situation using an ICLM Transaction, the Recipient Member receives it instantly no matter where they are – be it in a rural area or a large city – at any time of the day or night 24/7/365.
     
  1. Extortion at place of Receipt versus Completely Safe Receipt
  • In many countries where noticeable sections of the population receive Funds from Remittances, this situation is taken advantage of by criminal elements. The majority of those who are Recipients of such Remittances Funds are Women or young Adults. This is because it is primarily Men – and to a lesser extent Adult Women – who travel abroad to undertake Migratory Work. Because this is known, and general receipt periods are known and the limited locations where Remittances Funds can be received are known, these locations are permanently staked out by criminal elements, which extort percentages of the received Remittance Funds from Recipients in return for not harming them (or not taking all of the Funds). As a result of this situation up to 50% of the amount of Remitted Funds received are usually lost by the Recipient through this extortion (this is over and above the 15% to 40% of the Remitted Funds already lost to the Senders in the transfer of these Funds).
     
  • With ICLM Transactions, all of the Funds are safely, discreetly and confidentially received by the Recipient as Digital Stored Credit on her/his TEL.mobi Account, which is received wherever they are, securely, with the full security of the TEL.mobi Account protecting the Member’s Account. They are therefore not susceptible to extortion and loss of Funds.
     
  1. Unfavorable / Unsafe Redemption versus Favorable / Safe Redemption
  • In some instances, people who are in Migratory Work situations will send their Paychecks or another Instrument of Value to the Recipients for them to hand in to a local Money-Changer for discounting, and provision to the Recipient of a Discounted amount of Funds. Similarly, some people in Migratory Work situations will transfer their wages to the Bank Account of a local Money-Changer for discounting, and provision to the local Recipient of a discounted amount of Funds. These systems uniformly result in the discounts being very high, the Currency Conversion Rates being very unfavorable towards the Recipient, and also instances of failure or refusal to pay out Funds. This system is also susceptible to Money Laundering due to Instruments of Value and/or Funds ending up with people that the Instrument / Funds were not provided to, and which are not formally recorded as being in their possession.
     
  • With ICLM Transactions, Recipients can redeem their Stored Credit at multiple TEL.mobi Group Independent Agents and VSMPs. Due to the number of Independent Agents and VSMPs who are part of the Communities that they serve and live in, as well as the fact that any Independent Agents and VSMPs who are reported to Webtel.mobi as engaging in any incidents of extortionate redemption activities will lose their positions immediately, extortionate Redemption Rates are very low. Moreover, due to the fact that a full and detailed record of Transaction Flows exists on the TEL.mobi Group’s system, full and detailed records exist of the exact Route/s, Recipient/s, Conversion/s and all other activities with every ICLM from inception to the end – and that the Independent Agents and VSMPs have uploaded full KYC Documentation – the chances of Money Laundering attempts being able to be carried out undetected, and/or or directly and specifically traced / attributed / followed-up on directly, are zero.
     
  1. Recipients have to Redeem versus Recipients can use ICLM Transactions
  • In cases where a Sender in a Migratory Working situation has sent a Paycheck or another Instrument of Value to a Recipient, the Recipient has no alternative but to redeem it, at whatever rates and/or terms it is redeemed at.
     
  • In the case of an ICLM Transaction, the Recipient does not necessarily have to redeem it, because the Recipient can retain the Stored Credit in her/his TEL.mobi Account to carry out ICLM Transactions directly with other local TEL.mobi Group Members who provide goods or services instead of redeeming the Stored Credit.
     
  1. “Stored Credit Refund Machines” (“SCRMs”)

When the TEL.mobi SCRMs are introduced, Remittances Recipients will also be able to withdraw GBP 300 (or the equivalent in any other currency) per day from SCRMs. This will include the specialized “Travelling SCRMs” in vehicles that are being prepared specifically to travel into and provide services to rural areas, and also the “Marine SCRMs” that are being prepared to travel to and provide services to shipping company personnel.

 

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  1. Payroll Transactions:

ICLM Transactions have advantages in respect of (especially) international and multinational payroll transactions, as follow:

  1. Indirect Transactions + Intermediaries vs Direct Transactions + No Intermediaries
  • With Standard Methodologies, Bulk Amounts often need to be transferred to central institutions in varying countries of operations, for further onward administration and transfer to local institutions in-country, because transfers cannot be done directly to recipients. This doubles the already-high transfer costs and doubles the already-high transfer time.
     
  • With ICLM Transactions for Local, National, International or Multinational Payroll Transactions, the Transaction can be carried out directly to all Recipients, anywhere, at any time, simultaneously, 24/7/365, in 1/100th of a second, at very low cost.
     
  1. Long Admin Preparation + Activities versus One Simple and Easy-to-Use Page
  • With Standard Methodologies, due to the varying regime and requirements in multiple countries of operations, different and often cumbersome administration and processes needs to be carried out every month, necessitating multiple persons and a lot of time.
     
  • With ICLM Transactions, all Transactions can be done directly to Recipients, in all and any locations, instantly in 1/100th of a second, requiring just one person using just one page on the TEL.mobi System
     
  1. Unfavorable Currency Conversion Fees versus Favorable Conversion Fees
  • With Standard Methodologies, entities are subjected to mandatory Currency Conversions to the end-destination currencies. These are done by third parties, outside of the control of the transferring entity, and vary between unfavorable to very unfavorable.
     
  • With ICLM Transactions, the transferring entity is totally in control of its own Currency Conversions, and can do them anytime 24/5/365, at very favorable rates that suit them.
     
  1. Transaction Fees versus No Transaction Fees
  • With Standard Methodologies, entities are usually charged significant Transaction fees for preparing and initiating transactions to various countries, using various entities, and the significant documentation and preparation required. There can also be wide and disparate amounts of other fees, some of them very high (either directly or hidden in the Currency Conversion). This is especially as there will be different charges for transfers to different end-destinations.
     
  • With ICLM Transactions, there are no Transaction fees, because the entire process for all persons is able to be done simply, by one person, on one page, on one platform. Moreover, the Transfer Fees are very low, varying from 0.25% to 1% of the amount transferred.
     
  1. Long Transfer Times versus Instant Transactions in 1/100th of a Second
  • With Standard Methodologies, transfers can take three to five days – or longer depending on the end-destination, and with funds unable to be received “after Hours”, over “weekends” or during “holidays” (all of which vary in different countries and time zones), and this can also add to the time-lag between transfer and receipt..
     
  • With ICLM Transactions, transfers to all parties anywhere, can be completed in 1/100th of a Second, 24/7/365, with instant confirmation to the Sending and Receiving Parties by Text, Email and in Sender’s and Recipient’s “History” Facility on their TEL.mobi Accounts.
     
  1. Varying Processing Times versus One Simultaneous and Instant Process
  • With Standard Methodologies, transfers to different end-destinations take varying amounts of time to arrange, send and arrive. This necessitates long processing times and multiple persons and entities to implement, with these processes beginning and ending at different times – and taking different amounts of time – even though they are for the same payments at the same time. This necessitates a great deal of work and is expensive.
     
  • With ICLM Transactions, transfers to all parties, anywhere, can be completed in 1/100th of a Second, with instant confirmation to the Sending and Receiving Parties by Text, Email and in Sender’s and Recipient’s “History” Facility on their TEL.mobi Accounts.
     
  1. Manual Documentation Preparation vs All Documentation System-Prepared
  • With Standard Methodologies, given the disparity of systems and processes that have to be managed with multi-country payments, a great deal of documentation has to be prepared and recorded. This requires time and personnel, and results in unnecessary cost.
     
  • With ICLM Transactions, all documentation is prepared and created instantly, and is placed into the History Facility of the Sender and Receivers’ TEL.mobi Accounts simultaneously, instantly and at no cost.

 

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  1. Trade and Commodity Trading Transactions:

Trade and Commodity Transactions of all variations often require transfers of varying amounts of funds between sellers and buyers. Of critical importance in such Transactions are the rates of conversion able to be obtained, as well as the speed of the Transaction. ICLM Transactions are an alternative to most other forms of settlement between parties in Trade and Commodity Trading Transactions. A summary of many of the advantages of using ICLM Transactions for such Transactions are as follow:

  1. Unfavorable Forex Conversions vs Very Favorable forex Conversions
  • With Standard Transactions where payment for Commodities or Trades need to be made in a different currency to the home currency, the currency conversions are often done at standard commercial conversion rates, or on rare occasions, at rates which are rates which are only slightly better than standard commercial conversion rates. This can mean obtaining values of hundreds to thousands lower for smaller Transactions – or values of hundreds of thousand to millions lower for larger Transactions – for exactly the same starting amount than can be obtained at better conversion rates.
     
  • With ICLM Transactions, currency conversions are done at very favorable live rates, which can often result in values of hundreds to thousands more for smaller Transactions – or values of hundreds of thousand to millions more for larger Transactions – for exactly the same starting amount that yields much lower values in standard commercial transactions.
     
  1. Clearance Delays of 3 Days or More versus Clearance in 1/100th of a Second
  • With Standard Methods, clearance of a transfer from an account in one country to an account in another country can take three to five days. During this period, the money is effectively “disappeared”, because it is not in the seller’s or buyer’s accounts, and is collecting interest for some other party, somewhere. Additionally, in this period, currency values can increase or decline, both of which events can seriously affect the baseline of the Trade / Commodity. It can also have an effect on the availability or scarcity of Commodities. Moreover, clearance times can be the deciding factor in a bid or a Trade.
     
  • With ICLM Transactions, the Stored Credit Swap from one Member’s account to another occurs in 1/100th of a second. As such, there is no chance of currency value fluctuations or availability/scarcity of Commodity or time lags interfering with bids or transactions.
     
  1. No Transactions “After Hours” or Weekends versus Transactions 24/7/365
  • With Standard Transactions, transfers and clearances are not available “after hours” or over weekends. However, in a global economy, there is no “after hours”, because “after hours” in one part of the world is “working hours” in another. Moreover, for large parts of the world, “weekend” is Friday and Saturday – with Sunday as a working day. The inability to carry out Transactions, Trading, Transfer or Settlement “after hours” and over “weekends” from one country when the same situation does not apply in another country can lead to loss of trades, variations in prices and various other negative outcomes.
     
  • With ICLM Transactions, there are no “after hours” times or “weekends”. The full ICLM Service of ICLM Transactions from one currency to another is available 24/7/365, making Transactions, Trading, Transfer and Settlement available and possible 24 hours a day, seven days a week, 365 days of the year, in 1/100th of a second.
     
  1. Comparison of a Standard Transaction versus An ICLM Transaction
  • The Trader has to work through a third party entity to get a standard currency conversion rate and convert (which he/she is not in control of), and a work through a third party to do the funds transfer (which he/she is not in control of), with the funds “disappearing” from his/her account and not “reappearing” in the recipient’s account for three to five days, with the Trade / Rate / Cost / Deal able to be affected by these delays and potential currency rate fluctuations, and no conversion, transfer or settlement able to be done “after hours” or on “weekends”.
     
  • With an ICLM Transaction, the Trader selects and carries out the currency conversion himself/herself at a favorable conversion rate under his/her control, then does an ICLM transaction himself/herself at his/her control – whether in an office in a Capital City or in a Rural Area with a Mobile Phone – with the Transaction being completed within 1/100th of a second, so there is no chance of affecting the Trade / rate / Cost / Deal; and this whole process being able to be done anytime on a 24/7/365 basis.

 

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  1. Oil Purchases/Sales Transactions:

Oil Purchases and Sales need to be carried out in US Dollar currency, and many oil-producing entities or entities that engage in large-scale oil purchases and sales often do not obtain good currency conversion rates from their home currencies to or from US Dollars. Using ICLM Transactions for Oil Sales and Purchases provides such entities with currency conversion rates that are very favorable, on a 24/5/365 basis.

 

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  1. Examples of Other ICLM Transactions:
  1. Unbanked Persons’ Digital Economy Entrance
  • Unbanked Persons are forced to function in a cash-only economy. In the first place, this means that goods and services that they pay for cost them on average a great deal more. In the second place, they are completely cut out of the digital economy, and cannot acquire any goods or services online. This not only prevents them from acquiring lower-cost goods and services, in many instances it prevents them from obtaining certain goods and services at all. It also leaves them vulnerable to loss or theft of their cash, or to robbery.
     
  • By becoming TEL.mobi Members and swapping their cash for Stored Credit through the acquisition and loading of TEL.mobi Group Top-Up Vouchers, Unbanked Persons are able to leave the cash-only economy, and enter the 21st Century Digital Economy. They are then fully able to carry out Digital Economy Transactions with Merchants via ICLM Transactions, and are also fully able to acquire goods and services online from Websites and eCommerce entities that have added the ICLM Service to their Payment Gateways. Besides being a much safer and more secure way for them to hold their Stored Value, this enables Unbanked People to save a great deal by being able to acquire goods and services online, and also allows them to acquire goods and services that were previously unavailable to them. This will especially be the case when the TEL.mobi Group’s Global Marketplace is made live, because it will function primarily with ICLM Transactions. They are furthermore placed in a safer position in terms of the risks of loss, theft or robbery of their cash being removed.
     
  1. International Organization Field Activities Transactions
  • International Organizations often conduct Field Work in Developing Country environments or in Unstable Areas / War-torn Areas. In locations and situations such as those, it is difficult to pay Field Staff, because there are little to no functioning entities through which to transfer funds for salaries, remunerations of volunteers, payments for goods and services, etc. For this reason, large quantities of cash are shipped in – often by container load – usually in a Foreign “Hard Currency”, and this cash is used to pay for all of these various services. There are multiple issues related to such activities. The cost of shipping cash is very high. The cost for protection and security of cash stores is high, with extreme and continual risk of armed robbery. The delivery of cash to personnel is risky and requires protection. The carrying of cash by the personnel, volunteers and others presents a risk to them and promotes crime and robbery in the areas where they are present. Such activities carry a very high risk of Money Laundering and/or counterfeiting activities being introduced along the process, and for theft and/or misappropriation of funds, and it promotes a Black Market in Currency Conversions that can damage a Local Currency status and the local economy.
     
  • By using ICLM Transactions, International Organizations are able to remit Stored Credit for goods and services, and to their Staff, Volunteers and other entities. They can do ICLM Transactions in both Hard Currency and Local Currency from their various Currency Wallets in the International Organization’s TEL.mobi Account or VSMP, which are received in 1/100th of a Second – with all documentation being automatically and immediately generated for every Transaction. No cash has to be transported or used in-situ. It completely removes the possibility of armed robbery, theft, robbery, Money Laundering, counterfeiting, misappropriation, undermining of the Local Currency / Local Economy through Black Market Currency Conversions, risk to Staff and Volunteers. It also exponentially reduces costs through removal of the cost of cash transportation, cash guarding and security, unfavorable Currency Conversions and extreme reduction of personnel requirements for guards / security / cash administration / back-office payroll activities & personnel, etc. All Transactions can be done via ICLM Transactions and – when the TEL.mobi Group “Stored Credit Refund Machines” (“SCRMs”) are rolled out, cash amounts of up to GBP 300 per day (or the equivalent in other currencies) will also be able to be withdrawn.
     
  1. Social Security / Benefits Payments Transactions
  • Vulnerable People who are on Social Security/Benefits Payments face the same challenges as Unbanked People – and sometimes even more challenges. They experience all the same downsides – often being Unbanked and having to pay more for goods and products, and are often unable to access lower-cost online products and services – or any online products at all – due to being Unbanked. Often their Social Security/Benefits Payments are given either in the form of a cheque/instrument that needs to be encashed at a Bank or other entity. This entails their travelling to fetch these instruments/this cash – which travel costs them money and eats into their Social Security/Benefits money. The provision to them of cash or instruments of value also places them at risk of loss, theft or robbery of their Social Security / Benefits money – especially Women and Young Adults. Moreover, the high number of administration personnel required to administer such Legacy Systems for dispensing Social Security/Benefits Payments is extremely costly and inefficient, and because cash is being dealt with, there is the potential for waste, misappropriation and Money Laundering. In some cases, Social Security/Benefits entities have begun providing payments to Recipients on pre-Paid Debit Cards. However, this can actually makes the situation worse, because it exponentially increases the costs to provide Payments of Social Security/Benefits due to the cost of card production and delivery. Cards can also be lost / stolen / cloned, and there are hidden costs for all Transactions (to either the Social Security / Benefits Payments entity, or the Recipient, or both). Also, when Card or ATM systems go down the Recipients are without any Funds. Many merchants providing low-cost goods or services do not accept card payments, so cash has to be drawn at ATMs, which costs money – and the situation is back to the vulnerabilities related to cash. Moreover, subcontracting a Social Security / Benefits out to a Card Company Contractor means that Recipients have no recourse to help if they experience a problem with the card “After Hours”/ over “Weekends”/ during “Holidays”. These Legacy Systems cause enormous unnecessary waste of Funds at/by the entities paying Social Security/Benefits and unnecessary enforced wastage of the small amounts of Social Security/Benefits paid to Recipients. They also bring about multiple circumstances of risk and/or loss and/or theft and or other negative outcomes for the Recipients.
     
  • Using ICLM transactions for Social Security/Benefits payments exponentially reduces the costs/administration/personnel required for delivery of Funds to Recipients; provides instant, complete and detailed documentation and records for Social Security/Benefits entity and the Recipient, provides the Recipients with Stored Credit on a secure Digital Platform with high security, enables Recipients to enter the Digital Economy and obtain goods and services at lower cost with ICLM Transactions or funds from SCRMs, removes potential for theft/loss; enables monitoring of Social Security/Benefits usage; and provides many more advantages over all other current Legacy Systems being utilized.
     
  1. Additional ICLM Transaction Situations
  • Financing of Small Businesses in Developing Countries

It is difficult to provide finance to Small Businesses / Micro Businesses in Developing Countries due to many of the people carrying out such business being Unbanked, being in areas where there is no infrastructure and/or many other difficulties. ICLM Transactions enable this to be done immediately, and provide the Recipient person/s or organization/s with all of the advantages of ICLM Transactions and access to SCRMs.

 

  • Internationalization of Donations to Charities / Disaster Relief / Similar Causes

ICLM Transactions enable Donations to be made directly to Charities, Humanitarian Organizations, Disaster Relief and other similar organizations / situations internationally (instead of this being restricted to being done on a National or Regional basis). It also ensures that donations go directly to such entities, without intermediary costs or delays.

 

  • Alternative to Wages Payments in Cash

ICLM Transactions enable Companies and/or Organizations to provide wages by either TEL.mobi Top-Up Vouchers or ICLM Transactions. This significantly reduces costs to the Payee/s and Recipient/s, improves administration and records, and provides all of the other advantages that ICLM transactions bring with them (as well as access to SCRMs if and when required).

 

  • Alternative “Proof of Funds” Documents

Presentation of Members TEL.mobi Group History Documents evidencing Incoming ICLM Transactions can act as an Alternative “Proof of Funds” Document.

 

  • Refunds by Companies / Other Entities to Clients

Companies / Entities can carry out Refunds to clients via ICLM Transactions for instant refunding, and full, complete and detailed duplicate records instantly provided to Refunder and Recipient, that leaves no room for dispute.

 

  • Crowdfunding / “Patreon” Payments

Companies, Organizations or Individuals that engage in Crowdfunding or “Patreon” Payments can use ICLM Transactions for immediate and cost-effective implementation of their activities.

 

  • Third-Party Payments and Private Use

ICLM Transactions can be used for Payments of Hotel Bills and/or other Third-Party Payments for people, as well as for Private Use in private remittances of funds or private Payments in general. All of these save costs, are immediate, are safe and fully documented

 

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  1. Example of Alternative Uses of the ICLM Service on the TITAN System:

ICLM Transactions are one of many and various uses for the ICLM Service on the TITAN System.

 

The ICLM Service on the TITAN System represents a Closed-Loop System, functioning on Blockchain principles for both Security and KYC requirements, which is fully customizable for almost any type of audit-required activity; that can be implemented rapidly, effective, cost-effectively and reliably.

 

As an example the ICLM Service on the TITAN System can be very rapidly customized (using a “Closed and Restricted VSMP” Model) with which to implement Local, Regional and National Election Voting and/or Referendum Voting. It can be implemented at extremely low cost, for a completely reliable and auditable process, which eliminates all possibility of fraud, maximizes participation and turnout, allows for central control and monitoring, preserves total confidentiality, and can be done without any noticeable costs or requirements in terms of premises, equipment, personnel or other logistics, as follows:
 

Voting in a National Election or Referendum

 

  • A Closed and Restricted VSMP is established for the Election / Referendum Entity.
     
  • All potential Voters in the country (whether already TEL.mobi Group Members or joining on that Closed and Restricted VSMP) upload their KYC Documents and/or Substitute KYC Documents (thereby proving their identity and eligibility to Vote, without the need for ID Card issue).
     
  • Voters Lists are compiled by the personnel of the Closed and Restricted VSMP according to Membership and KYC Documents (Election Officials can nominate where KYC documents can be verified and certified, and – if necessary – arrange lower costs or zero cost to the Voters for KYC Verification by Nominated Attorneys/Notaries/ Commissioners of Oaths).
     
  • It is not possible for fraudulent Voting to occur from this stage onward, because every ITAN Number of each Member is unique, and every ITAN Number is attached to a specific Member’s Unique Mobile Phone Number and Name, and every Member has uploaded verified and certified KYC Documentation which has been checked to confirm his/her eligibility to Vote (first Fraud-Potential Removal Process).
     
  • For the Vote itself, a Page is prepared on the Closed and Restricted VSMP’s site (Desktop and Mobile), which has the relevant Voting Options (i.e. Party Names / Persons’ Names / Referendum Questions) with Tick Boxes next to appropriate names.
     
  • Voters have to tick an appropriate box or boxes per page. This also removes the possibility for Spoiled Votes, because the Page can be set not to proceed (with “Error” and/or “Help” messages shown) if the appropriate / appropriate number of Tickboxes per section have not been ticked (this removes / reduces “Spoiled Ballots” potential).
     
  • When the relevant Tickbox selections have been made, the Member clicks on the “Send” button, and the Member’s selection is sent by Text Message to the Central Repository (this removes the requirement and costs for voting ballots, voting booths / voting machines / voting station personnel / voting premises / voting premises security / postal votes from abroad – because Texts can be sent from abroad / vehicles for transportation of ballot boxes / security for transportation of ballot boxes nationwide / personnel to count and verify ballots).
     
  • The TITAN System will have already been set according to the Election Commission Entity’s specifications – generally along the lines that Members will not be able to send their Text Vote if they have not previously uploaded their KYC and consequently been validated on the Voters List (second Fraud-Potential Removal process), and unless it is sent from their Registered Mobile Number (third Fraud-Potential Removal process).
     
  • The TITAN System can also be set so that Members can only send one Text to the relevant stand-alone Voting Number (fourth Fraud-Potential Removal Process).
     
  • The TITAN System can also be set so that when the Vote is sent in, attached to it is only the Member’s ITAN Number (and even that can be hidden) – with the Member’s name removed. This allows for Multiparty Verification of results without Compromising of Voter Confidentiality.
     
  • In the event of any queries or disputes (which cannot, in fact arise – but if they do) a full audit of every aspect of every Member and every Vote is immediately possible, to show the KYC Documents, the eligibility of the person to vote using the ITAN Number of the Voter (without the Voter’s name to preserve Voter Confidentiality), as well as the Text from the Voter’s Mobile Number (with some numbers obscured to preserve Voter Confidentiality).
     
  • Voters can also be reminded or encouraged to Vote by the sending of a Text or Texts to them through the day. This – combined with the highly increased efficiency and convenience of this process over Standard Processes – will significantly increase Voter Participation.
     

Voters can Vote from anywhere, anytime, on the Voting day using just their Mobile Phones, with results in / collated / shown immediately by the System, in real time, with zero potential for error or fraud. There is no requirement for people to queue, or possibility for ballot papers to run out / intimidation / ballot box losing or stuffing / spoiled ballots. There is no requirement for ballot machines / premises / voting booths / Polling Personnel / Security / vehicles / etc. As such, it can be done at a fraction of the cost of standard systems, much more rapidly, much more conveniently for Voters and the Voting / Referendum Commission Entity, and with no chance of post-election / post-referendum challenges.

 

There are many such Alternative Uses for the ICLM Service on the TITAN System. All that is required is for Persons / Entities to think through how they can utilize the Service and System, and then implement the Alternative Use themselves via a Global VSMP, or request from Webtel.mobi that a “Closed VSMP” and/or a “Closed and Restricted VSMP” be set up for them to do it over.

 

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  1. Summary:

The examples listed in this section are only a few of the methods that the ICLM Service can be utilized by TEL.mobi Group Members, and there are many more applications for the TEL.mobi Suite of Services.

 

The reason that more examples are not given is that none of these activities or services – even those described in this section – are provided by Webtel.mobi or the TEL.mobi Group. Webtel.mobi and the TEL.mobi Group only provide Telephony Services.

 

However, Members of the TEL.mobi Group are able to use the full suite of TEL.mobi Group Products and Services when they are Members – provided that they are used for legal purposes and according to the Terms of Use of Webtel.mobi and the TEL.mobi Group.

 

As such, if Members are able to utilize the various TEL.mobi Group Facilities to improve or benefit their own business or personal activities, and to reduce their costs/expenses, make their businesses or personal activities more secure or efficient, then they are welcome to do so.

 

As the owners of businesses, members of organizations or private persons know best what their own requirements are, and how the use of the TEL.mobi Suite of Services – whether it be the ICLM Service or any other – is best able to be applied to their own situations; they are able to examine the uses thereof, and for them in and apply them to their own businesses or private circumstances in the best and most appropriate manner that they choose.

 

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  1. COMPARSION OF THE “ICLM” SERVICE’S & “TITAN” SYSTEM WITH “LEGACY SYSTEMS”
  1. Legacy Systems Overview:
  1. A “Legacy System” refers to a system that is built at a certain period in time. At that period in time, it may be built according to the most modern structures / systems / capabilities that exist, and be “modern”.
     
  2. However, with the passage of time, most man-made products and/or services become old and outdated, and not competitive against more modern man-made products and/or services.
     
  3. Generally, such old and outdated products and/or services are discarded for newer ones – except, sometimes, for those that have many clients and/or are used by many businesses.
     
  4. These products and/or services types find themselves in the position where they know that their product or service is outdated and no longer really fit-for-purpose, but to modernize it properly they will have to rebuild it from scratch. However, to rebuild it from scratch will interfere with their ongoing revenues from existing clients.
     
  5. As such, in order not to lose their existing revenues, they try to modernize parts of their outdated system, in a patchwork of ad-hoc processes. Generally, what keeps their clients static in such below-par / substandard Legacy Systems is purely force of habit, and/or the lack of a viable alternative.
     
  6. However, such patchwork attempts to keep an outdated Legacy System are never successful in the medium to long term (the “Legacy” being the old structure that cannot be changed as it will result in loss of revenue).
     
  7. This is because the point is always reached where – despite all of the ad-hoc add-ons and patchwork fixes – the entire foundation and method of operation is so outdated and unfit for a more modern world, that it will always eventually collapse. It will collapse in the face of the appearance of a product or service that is conformant with modern structures, requirements, facilities and methods of operation, and that provides a better service at a lower cost.
     
  8. The TEL.mobi Telephony System, TITAN System and ICLM Service (all part of the same platform) is such a new product and service. It effectively, reliably, securely and cost-effectively replaces many existing Legacy Systems, some of which have been in existence for over 50 years (long before even the advent of the Internet and Mobile Telephony), which Legacy Systems are totally unfit-for-purpose in a 21st Century world.

 

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  1. Comparison of the TEL.mobi TITAN System with Legacy Systems:
  1. The TITAN System Compared to The “SWIFT” Legacy System

 

Although the TITAN system is a Telephony Direct-to-Mobile-Bill system (a proprietary TEL.mobi Group in-house System), it has many advantages over – and is a superior product & service to – the International “Society for Worldwide Interbank Financial Telecommunication” or “SWIFT” Financial Services system – a Private Company that functions Worldwide.

 

 

This is because the SWIFT system (an International Clearing House system) is – in terms of modern technological, digital and 21st Century products – a completely outdated and ancient product – having been constructed and built in the 1970s. It is an extraordinarily old Legacy System, which was built long before the advent of the internet, let alone the convergence of 21st Century Online Technologies, Mobile Telephony systems and an interconnected world.

 

The SWIFT system is therefore totally unable to be altered to conform with modern digital possibilities and standards at all, and completely unable to compete at all with modern 21st century Mobile Telephony-based products and services. Furthermore, because the SWIFT system was built at such a technologically ancient time, it can never be altered to upgrade to the standard of modern technology and telecommunications (known as a “Legacy System” / “Legacy Problems”).

 

Some of the advantages that the TITAN System enjoys over the SWIFT Legacy System are that it:

 

  • Is more robust in Security and Know-Your-Client and Anti-Money-Laundering systems, and
     
  • Is much more resistant to accidental transactions to wrong recipients, and
     
  • Is much more rapid, and
     
  • Is much lower in cost, and
     
  • Provides instant transaction notifications to Members by text + email, and
     
  • Enables transactions to be carried out globally in 1/100th of a second, and
     
  • Provides instant accounting records in Members “History” sections, and
     
  • Has a Total Global Footprint – being available to all TEL.mobi Members worldwide, and
     
  • Is available to Members and fully-operational 24/7/365, and
     
  • Enables Members to do their own forex exchanges at good rates prior to transactions, and
     
  • Is much more widely and easily accessible – from any internet-enabled Smart Phone, pre-Smart Mobile Phone, Computer, Tablet or PED worldwide.

 

  1. The TITAN System Compared to The “SEPA” Legacy System

 

Although the TITAN system is a Telephony Direct-to-Mobile-Bill system (a proprietary TEL.mobi Group in-house System), it has many advantages over – and is a superior product and service to – the Regional “Single Euro Payments Area” or “SEPA” Financial Services system – a Privately-Owned System that functions within Western Europe.

 

 

This is because the SEPA system (a Regional Clearing House system) is an old Legacy System, which was built in the early 2000s before the convergence of 21st Century Online Technologies and Telephony Systems. Technology and Telephony has advanced to an extreme degree since the development of the SEPA system, and because the system was built at such an early stage, it cannot now be altered to upgrade to the standard of modern technology and telecommunications (known as a “Legacy System” / “Legacy Problems”).

 

It would have to be completely rebuilt from scratch to conform to modern technology and other requirements – just to compete with Telephony products such as the TITAN System, let alone modern Financial Services possibilities.

 

The SEPA system is therefore unable to be altered to conform to modern digital possibilities and standards, and unable to compete with modern 21st century Mobile Telephony-based products and services.

 

Some of the advantages that the TITAN System enjoys over the SEPA Legacy System are that it:

 

  • Is more robust in Security and Know-Your-Client and Anti-Money-Laundering systems, and
     
  • Is much more resistant to accidental transactions to wrong recipients, and
     
  • Is much more rapid, and
     
  • Is much lower in cost, and
     
  • Provides instant transaction notifications to Members by text + email, and
     
  • Enables transactions to be carried out globally in 1/100th of a second, and
     
  • Provides instant accounting records in Members “History” sections, and
     
  • Has a Total Global Footprint – being available to all TEL.mobi Members worldwide, and
     
  • Is available to Members and fully-operational 24/7/365, and
     
  • Enables Members to do their own currency exchanges at good rates prior to transactions, and
     
  • Is much more widely and easily accessible – from any internet-enabled Smart Phone, pre-Smart Mobile Phone, Computer, Tablet or PED worldwide.

 

  1. The TITAN System Compared to Other Similar “Legacy Systems”

 

Although the TITAN system is a Telephony Direct-to-Mobile-Bill system (a proprietary TEL.mobi Group in-house System), it has many advantages over – and is a superior product and service to – multiple other similar Legacy Systems worldwide

 

This is because all of these systems (National Clearing House systems) were established and built in the 1960s, 1970s and 1980s, and are all – in terms of modern technological, digital and 21st Century products – completely outdated and ancient products. They are extraordinarily old legacy systems, which were built long before event the advent of the internet, let alone the convergence of 21st Century Online Technologies, Mobile Telephony systems and an interconnected world.

 

Examples of some of these Privately-Owned “Legacy Systems” are at the urls below:

 

 

And most others, worldwide.

 

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  1. Graphic Example - Legacy System Transaction Flow vs ICLM TITAN Transaction Flow

1. A Transaction via Legacy Systems

 

 

2. Exactly the Same Transaction via the ICLM Service on the TEL.mobi TITAN System

 

 

** Cash Deposits by 3rd Parties are not possible on the TEL.mobi System

 

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  1. An Example of the High Hidden Costs within Legacy System Transactions:

Besides Settlement Delays of three to five days, the “Disappearance” of funds for three to five days, Severe AML Vulnerabilities and Multiple other Negative Consequences + Vulnerabilities + Costs that come with the continued use of hopelessly outdated Legacy Systems, one of the major consequences is that of the stratospheric costs levied on users. These costs are imposed in order to feed the long chain of entities and persons that do not, in fact, add any value or provide any real service at all – other than just existing. Very often, these stratospheric costs are hidden in the currency conversions, to present one scenario (i.e. “low transfer fees”) when in reality the fees – hidden in the conversion rates – are extraordinarily and stratospherically high, and they are levied for the provision of no service at all. An example of this situation appears here below:

 

 

  • If funds are transferred from one Currency Jurisdiction to another, then a mandatory Currency Conversion is carried out by the Legacy System entities along the Transaction Flow.
     
  • For this example – including Conversion Costs – the following Transaction is completed:
     
  • GBP 10 000 000 = € 10 528 000 (Figure 1)
     
  • A rate of exchange is provided, but with no real data as to what is being charged. However, if one does an immediate reverse transaction, the stratospheric scale of the hidden costs can be seen.
     
  • For example, if GBP 10 000 000 = € 10 528 000, then the reverse should be similar. In other words, approximately € 10 528 000=GBP 10 000 000 or close to it.
     
  • However, if one does exactly the same EUR to GBP Conversion, immediately, the following occurs:
     
  • € 10 528 000 = GBP 9 021 070 (Figure 2)
     
  • Suddenly – and for no reason – GBP 978 930 (almost GBP 1 000 000) has just vanished!
     
  • This is an example of the absolutely astronomic hidden costs – levied for no reason or purpose or service at all other than just existing – that Transactions via Legacy Systems carry with them.

 

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  1. How “Legacy Attitudes” Retard/Stop Modernization of Legacy Systems:

The Legacy Systems illustrated in the preceding examples are Ancient and unfit-for-purpose by any modern measurement. They are so outdated that although they are in the Financial Services Sector, they have now been overtaken and superseded by products and services in the Telephony Sector. The reason for this is that they have remained Static, and not modernized with the times.

 

The First Causal Factor of this situation is due to the impossibility of upgrading Legacy Systems without the requirement to fully rebuild them. This clashes with their resistance to rebuilding – because to do so will require temporary closing, and thereafter moving of clients onto the rebuilt platform – and Legacy System companies are reluctant to do that in case they lose revenues.

 

The Second Causal Factor of this situation is the existence of “Legacy Attitudes”, which almost always exist and prevail among the Owners and Management of Legacy System entities.

 

“Legacy Attitudes” are attitudes that arise when the persons involved with a System that was once new, and was once a Unique, First-Mover or Indispensible System when it was first made, assume that it will retain these characteristics forever. They therefore take the status quo – and their clients – for granted, assuming that nothing will ever be able to replace them, and there is therefore no choice for anyone but to keep following the same process in the same way with the same standards, forever. However, nothing lasts forever.

 

The Legacy Attitudes prevalent in the Financial Services Sector that have allowed the situation to arise where their Systems and Products are no longer fit-for-purpose in the modern 21st Century World – and are eclipsed and rendered redundant even by Telephony Sector Systems and Products – are not unique to the Financial Services Sector. It is just the latest Sector to experience the consequences of failure to move with the times due to Legacy Attitudes.

 

To illustrate how Legacy Attitudes permeate and prevail in various Business, Commercial and Other Sectors (and the uniformly negative consequences that ensue when they take root), please see below examples of some historical Legacy Attitudes.

 

From these examples, the way that Legacy Attitudes cause people/entities to refuse to modernize with the times and rather cling to the past – as well as the inevitability that these processes and systems will change regardless of these Legacy Attitudes – can be clearly seen:

 

  • "The Americans have need of the telephone, but we do not. We have plenty of messenger boys."
    Sir William Preece, chief engineer of the British Post Office, dismissing the viability of telephones
     
  • "We do not want now and we shall never want the human voice with our films."
    D.W. Griffiths, famous Movie Director, dismissing the replacement of silent movies by talking movies
     
  • "The horse is here to stay but the automobile is only a novelty – a fad.”
    President of the Michigan Savings Bank, dismissing the replacement of horses by motor vehicles
     
  • "Airplanes are interesting toys but of no military value."
    Marshal Ferdinand Foch, Professor of Strategy, French Military College, dismissing the viability of aircraft

 

The situations as sketched above are the same as the situation that the Legacy Systems described previously in this Section find themselves in with regard to the TEL.mobi Group’s ICLM Service and TITAN System.

 

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  1. Susceptibility of Legacy Systems to Money Laundering:

There are thousands of Banks and Financial Institutions internationally. Each of them has from Hundreds to Thousands of Branches, Sub-Branches and/or places from where transactions can be initiated. The total of all of these is in the millions – and that is just the Branches and Sub-Branches, and does not include the hundreds of Accounts held by people at each Branch. To count these one will reach a number of individual Accounts in the Billions.

 

The way that the Legacy Financial Services System is set up, any one of these Billions of Account Holders can carry out a Transaction to any one of the other Billions of Account holders – for a Transaction Variables number that is in the number range of Billions X Billions. Moreover, these Billions X Billions of Transaction Variables originate or flow through:

  1. 245 different countries and territories – all with differing National standards, rules, laws and systems, none of which are uniformly conformant with those of other countries’.
     
  2. Cumulatively thousands of different sets of laws and/or regulations – none of which is uniformly the same as those in other countries, and which are differently enforced or unenforced.
     
  3. Through millions of Branches and Sub-Branches, which have different standards of employment, training, competence, security and oversight.
     
  4. Through tens-of-millions of staff at these Branches and Sub-Branches, all of whom have different standards and levels of competence in training, security, vetting, etc.
     
  5. Originating from Billions of different Account-holders – which will include multiple criminal enterprises and their enablers.

To adequately implement a system that can identify layering and other forms of Money Laundering from an uncoordinated network that comprises billions of different Accounts, overseen by tens-of-millions of different people, from millions of Branches and Sub-Branches, functioning according to thousands of different processes / structures / standards / oversight, in hundreds of countries, is simply not possible, and it never will be.

 

In comparison, the TEL.mobi ICLM Service over the TITAN System functions:

 

  • On one platform.
     
  • With one set of rules and standards.
     
  • With oversight (and automated detection) from the system.
     
  • And additional oversight from only one set of people working according to one set of standards.
     
  • An early-warning from a global set of local people in every country all working on the same system.
     
  • With full oversight of all transactions in-toto and all participants in-toto, from inception to end.
     
  • And zero possibility of layering.
     

And is a much safer and more secure system.

 

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  1. Comparison of a Transaction Flow - Legacy System vs the ICLM Service / TITAN System:
  1. Exclusion of 2.5 Billion Unbanked vs Inclusion of All People Worldwide
  • Legacy Financial Services Systems automatically and irrevocable exclude the 30% of the world’s population (2.5 Billion people) who are Unbanked from participation in Transaction Flows over their Systems.
     
  • The Modern Telephony ICLM Service over the TITAN System enables everyone who has a Mobile Phone to participate in Transaction Flows over its System.
     
  1. Only Possible from a Physical Branch vs Possible from Anywhere
  • Legacy Financial Services Systems can only be accessed by going to a physical branch of the entity in a village, town or city (less than 10% of banked people worldwide have access to – or use – internet banking).
     
  • The Modern Telephony ICLM Service over the TITAN System is able to be accessed from literally anywhere – be it a rural paddy field or an office in Manhattan – by anyone who has a Mobile Phone; including the pre-Smart Phone “Feature Phones” and “Basic Mobile Phones” (that still make up 60% of Mobile Phones in circulation).
     
  1. Only Possible in Office Hours and Weekdays vs Possible Anytime 24/7/365
  • Legacy Financial Services Systems can only be used and only function during “Office Hours” and “Weekdays” – and cannot be used and do not function “After Hours”, on “Weekends” and during “Holidays”. Besides the fact that “Weekend” days differ according to Religion, “After Hours” differs according to Geographic Location and “Holidays” differ according to Country (so it is not a globally valid model), this means that for vast amounts of time, people have no access to the service.
     
  • The Modern Telephony ICLM Service over the TITAN System is fully available, fully operational and fully functional 24 hours per day, seven days per week, 365 days of the year.
     
  1. Up to 11 Separate Entities involved vs All on One Closed-Loop Platform
  • Legacy Financial Services Systems require up to (and sometimes more than) Eleven Separate Entities to carry out a Transaction Flow from beginning to end. This entails large numbers of different persons and different entities being involved with the Transaction Flow. Moreover, these Systems also allow for the introduction of cash from parties who are often not able to be identified. They are therefore de-facto Open and Vulnerable Systems.
     
  • The Modern Telephony ICLM Service over the TITAN System is a Unitary and Centrally-Controlled Closed-Loop Platform. It is the only Entity involved in the entire (Direct) Transaction Flow. No cash is allowed into the system, and every single participant is identified and has multiple KYC and AML procedures applied on him/her. It is a Single Closed and Closed-Loop System, which is not a Vulnerable System.
     
  1. Multiple and Variable Mixed Security Systems vs One Tight Security System
  • Because of the large number of different and disparate entities that are required by Legacy Financial Services Systems to carry out a Transaction Flow from beginning to end, there are extremely large variables in their Administration / Vetting / Appointment / Oversight / and other standards and norms. This in turn results in highly varying standards of Security along the long Transaction Flow, and Oversight is impossible along the entire Transaction Flow.
     
  • The Modern Telephony ICLM Service over the TITAN System is a Unitary and Centrally-Controlled Closed-Loop Platform, with only one set of Administration / Vetting / Appointment / Oversight and other standards and norms. This results in one unitary and high standard of Security and Oversight.
     
  1. Multiple People, Entities & Systems Required vs One P2P Automated System
  • Legacy Financial Services Systems require a large number of separate entities to complete their Transaction Flows.
     
  • The Transaction Flows on the Modern Telephony ICLM Service over the TITAN System require no other entities. The entire process takes place on its own platform, and it is a 100% Pure Peer to Peer Flow. It is the only Pure Peer to Peer Transaction Flow of this nature on or by any entity in the world.
     
  1. Severe Risk of Layering versus Zero Risk of Layering
  • One of the greatest facilitators of Money Laundering is the process of “Layering”. This requires establishing a Multi-Transaction flow of money to be laundered, with multiple different parties in different locations involved, to hide the origin and path of Funds. Because of the number of different and disparate entities and people that are required by Legacy Financial Services Systems to carry out a Transaction Flow from beginning to end – and the fact that cash can enter the Transaction Flow – the potential for “Layering” to occur is high.
     
  • Transaction Flows using the Modern Telephony ICLM Service over the TITAN System are carried out only over a Unitary and Centrally-Controlled Closed-Loop Platform, restricted to KYC’d Members, with every single phase of every single (direct) Transaction Flow instantly and permanently visible and recorded by the same system and the same persons. “Layering” is therefore not possible.
     
  1. Identified Activities Impossible vs Unidentified Activities Impossible
  • Because Legacy Financial Services Systems require multiple different and disparate entities’ and peoples’ participation to function, it is not possible to rapidly (or sometimes ever) identify which entity or person carried out specific activities. This is exacerbated due to cash being allowed to be deposited by third parties in such Transaction Flows.
     
  • The Modern Telephony ICLM Service over the TITAN System is a Unitary and Centrally-Controlled Closed-Loop Platform, with only KYC’d Members able to participate in it, and with every step of every Transaction Flow permanently visible. Unidentified Activities are therefore impossible.
     
  1. Very Vulnerable to Laundering vs Virtually Invulnerable to Laundering
  • Because of the requirement for the participation of multiple different and disparate entities and persons, the ability to introduce cash into the Transaction Flows, and the potential for Layering to occur, Legacy Financial Services Systems are very vulnerable to Money Laundering activities.
     
  • Because the Modern Telephony ICLM Service over the TITAN System is a Unitary and Centrally-Controlled Closed-Loop Platform, with only KYC’d Members able to participate in it, and with every step of every Transaction Flow permanently visible, and additional Full and Verified and Certified KYC Documentation required for any person wishing to Refund Stored Credit, it is virtually Invulnerable to Money Laundering activities.
     
  1. Funds “Disappear” for 3 to 5 Days vs Stored Credit Always Visible
  • With Legacy Financial Services Systems’ Transaction Flows, the Funds in the Flow effectively “disappear” for three to five days (or sometimes longer). During this period, they are not in the Account of the Sender, not in the Account of the Receiver, and no person in the long chain of Legacy Financial Services Systems Transaction Flows can provide a coherent or authoritative response as to where the funds are or why they are “disappeared”.
     
  • With the Modern Telephony ICLM Service over the TITAN System, all Stored Credit is always visible to its owner, and an ICLM Transaction from one Member is instant – so their Stored Credit is permanently visible to either the Sender or Receiver, and is never “disappeared”.
     
  1. Transaction Time of 3 to 5 Days vs Transaction time of 1/100th of a Second
  • With Legacy Financial Services Systems Transaction Flows, the Transaction Time for Funds to leave the Sender’s account and arrive in the Recipient’s account is three to five days – or longer. If the Transaction Time is intersected by a weekend, it can be a Transaction Time of five to seven days.
     
  • With the Modern Telephony ICLM Service over the TITAN System, the Transaction time for Stored Credit to leave the Sender’s Account and arrive in the Recipient’s Account is 1/100th of a Second, 24/7/365.
     
  1. High Transaction and Transfer Fees vs No Transaction Fees & Low Transfer Fees
  • Because of the large number of different entities that are required by Legacy Financial Services Systems to carry out a Transaction Flow – and because every one of these entities takes money from the Sender’s and/or Receiver’s Funds just for passing them on to one another – there are high Transaction Fees and Transfer Fees applied in and to Legacy Financial Services Systems Transaction Flow. Sometimes these are shown but often they are hidden in the Forex Conversion that Legacy Financial Services Systems impose.
     
  • The Modern Telephony ICLM Service over the TITAN System does not apply or charge any Transaction Fees at all. It is free to join and use the TEL.mobi System, and the ICLM Transactions Service is also provided free. ICLM Transactions are charged very low Transfer Fees, ranging from 0.25% to 1%.
     
  1. Very Unfavorable Forex Rates vs Very Favorable Forex Rates
  • Because of the large number of different entities that are required by Legacy Financial Services Systems to carry out a Transaction Flow – and because every one of these entities takes money from the Sender’s and/or Receiver’s Funds just for passing them on to one another – very unfavorable Forex (i.e. Currency Conversion) Rates are applied. These are applied Mandatorily by the Legacy Financial Services Systems, and because all entities in their Transaction Flow chain profit from it and divide the profits, they all provide the same or very similar unfavorable rates – with no explanation as to why these rates are so high – to present an impenetrable barrier to better rates.
     
  • The Modern Telephony ICLM Service over the TITAN System provides access to its Members directly to Live Market Rates, which are extremely favorable in comparison to Legacy Financial Services Systems’ Rates, with only a very small mark-up for the TEL.mobi Group. Moreover, conversion from one currency to another is not Mandatory with an ICLM Transaction, and the Forex Conversion is placed totally in the hands of the Member, and is not retained by the TEL.mobi Group.
     
  1. High Administration Fees vs No Administration Fees
  • Because of the large number of different entities that are required by Legacy Financial Services Systems to carry out a Transaction Flow – and because every one of these entities takes money from the Sender’s and/or Receiver’s Funds just for passing them on to one another – there are high Administration Fees applied in and to Legacy Financial Services Systems Transaction Flows. Sometimes these are shown but often they are hidden in the Forex Conversions that Legacy Financial Services Systems impose.
     
  • The Modern Telephony ICLM Service over the TITAN System does not apply or charge any Administration Fees at all. It is free to join and use the TEL.mobi System, and the Detailed Administration provided by the System is also free.
     
  1. No Process Transparency vs Complete Process Transparency
  • With Legacy Financial Services Systems Transaction Flows, there is absolutely no transparency of process to or for the Sender or Receiver. The closest that they come to the Transaction Flow is if there is a Branch of their entity or a Call Centre. None of the personnel at either of those entities can provide them with any information as to where their Funds are at any time, who is in possession of the Funds while they are “disappeared”, who is earning interest on those Funds while they are “disappeared”, what the costs are for, who is levying the costs and what the costs are per entity, what entities are involved with the Transaction Flow, or any other information of any nature. There is a zero return of any meaningful information, and the entire Transaction Flow is obscured and hidden, with zero Transparency.
     
  • With the Modern Telephony ICLM Service over the TITAN System, all Members know exactly what is occurring at every moment, have their Transactions done in 1/100th of a Second, receive instant detailed Administration and Reports on all and any Transactions. As such, there is, at all times, 100% Transparency.
     
  1. Client Totally Dependent on 3rd Parties vs Member Totally in Control
  • With Legacy Financial Services Systems Transaction Flows, there is a total loss of control by a client of his/her own Funds and any action associated with the Funds. The clients are totally dependent on multiple third party processes, multiple different and disparate people that they do not know and multiple entities that they know nothing about. They similarly do not know what any of these third parties that they are totally dependent on are, or where they are, or what they are actually doing, or why they are doing it, or how much money they are charging for doing whatever it is that they are doing.
     
  • With the Modern Telephony ICLM Service over the TITAN System, all Members are permanently and totally in control of their own Stored Credit, and all Transaction Flows, all the time. There are no other entities involved – only Pure Peer to Peer Transactions under the total control of the Sender. All aspects of who is involved, what is being done, why and how it is being done is not only known, it is under the control of the Member himself / herself.
     
  1. Disparate Admin & Reporting Standards vs One Admin & Reporting Standard
  • Because of the large number of different and disparate entities that are required by Legacy Financial Services Systems to carry out a Transaction Flow and their differing Administrative and Reporting Systems, it is often not possible for a Sender or Recipient to obtain detailed or clear Administrative Documents or Reporting from entities involved in these processes during or after a Transaction – especially if there have been – or are – problems with the Transaction.
     
  • The Modern Telephony ICLM Service over the TITAN System providers all Members with instant and highly-detailed Administrative Documents and Reporting, containing detailed information on all aspects of their Transaction, in their History Facility on their Account, by Email and by Text Message, instantly, and to a one (high) standard.
     
  1. Summary

Although there are many and various other advantages that the TEL.mobi Group’s ICLM Service over its proprietary TITAN System has over Legacy Financial Services Systems, these preceding ones are some of the significant ones.

 

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  1. Summary of the Comparison of the ICLM Service to Legacy Systems:

For all of the preceding examples comparing these Legacy Financial Services Systems with the TEL.mobi Group’s Modern Telephony ICLM Service over the TITAN System; it can be vividly and clearly seen that people utilizing Legacy Financial Services Systems find themselves in situations where:

  1. Third Party Entities and people are in control of the clients’ actions,
     
  2. Which Third Party Entities and people do not provide any actual value-added service,
     
  3. And provide very unfavorable currency conversion rates,
     
  4. And take a very long time to do that which could be done instantly,
     
  5. And “disappear” clients’ money for three to five days at a time,
     
  6. And provide little to no transparency of process,
     
  7. But take extremely significant amounts of money in fees – effectively just for existing,
     
  8. And at the same time are highly susceptible to Money Laundering activities.

In other words, they are not so much service providers as they are “Gatekeepers” – who take vast amounts of clients’ money not for providing a service, but rather just for existing.

 

Moreover, they maintain their position simply by forcing clients to use their outdated and unfit-for-purpose Legacy Systems; which Legacy Systems do not and cannot improve or change or keep up with the modernization of systems.

 

They thereby just take vast amounts of other people’s money and waste vast amounts of other people’s time – just for existing as middlemen.

 

As all of these entities are Private Companies – or ultimately owned by Private Companies – there is a profit-motive for their wanting to maintain and retain the status quo; hence the “Legacy Attitude” that permeates them. This is unlikely to be voluntarily altered until a product or service that renders them redundant comes into being – just as the automobile rendered the horse redundant.

 

Utilizing the possibilities that the advancement of mobile telephony systems has brought with it, the TEL.mobi Group’s ICLM Service on its proprietary TITAN System returns control of people’s own affairs to them.

 

Although the TEL.mobi Group is a Telephony Company and provides only Telephony Services, its Members are able to utilize the Facilities and Services on its platform for any legal service which can improve their business or personal efficiency, productivity, cost-saving or revenue-generation.

 

The ICLM Service on the TEL.mobi TITAN System enables people to obtain better services and better results than Legacy Financial Services Systems, in a manner whereby they are in control of their own affairs, make their own decisions, keep much more of their own money, save their time and are kept secure and informed at all times, 24/7/365.

 

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  1. ADVANTAGES OF THE ICLM SERVICE FOR MEMBERS AND MERCHANTS
  1. Advantages for Retail, Wholesale, eCommerce and other Merchants:

The use of the ICLM System carries with it significant advantages for every type of Retail, Wholesale, Trade, eCommerce and other Business and/or Merchant. A summary of some of the immediate advantages for all of these entities is as follows:

 

  1. Immediate Setup of Full System at No Cost with No Integration Requirement

The entire integrated system to send or receive ICLM Transactions from any other TEL.mobi Group Member is created as soon as a person Joins as a Member and verifies his/her Registered Mobile Number. It is an instant process, at no cost other than the cost of one low-cost Text Message to verify the Registered Mobile Number. There is no requirement for any integration or integration cost in order to acquire and use the system.

 

  1. Immediate Complete Functionality at No Cost with No Equipment Requirement

As soon as a Member has joined, the entire ICLM Service / TITAN System – and all other Facilities within the TEL.mobi Group System – are fully functional for the Member (Merchant). The Member (Merchant) can instantly make or receive ICLM Transactions to and from any other TEL.mobi Group Member. There is no requirement for buying, renting or leasing any equipment or terminals to be able to use the system fully, and there are no monthly System Rental costs or Monthly System Usage costs at all.

 

  1. Extremely Low Transaction Costs

The ICLM Transactions are provided at extremely low cost on a Sliding Scale – from 1% of the ICLM Transaction Amount at the highest end of the Sliding Scale, down to 0.25% of the ICLM Transaction Amount at the lowest end of the Sliding Scale. Moreover, details of all costs are clearly available prior to any ICLM Transaction in the “Rates” section on TEL.mobi sites. The receiving Member (Merchant) is able to decide whether the ICLM Transaction Costs are for the account of the Sender or the Recipient.

 

  1. Immediate Receipt of All Funds

An ICLM Transaction takes 1/100th of a second to complete between Members, and, once completed, the full amount of funds (Stored Credit) is available in the receiving Member’s (Merchant’s) TEL.mobi Account immediately – with no waiting period at all.

 

  1. No possibility of chargebacks
  • Due to the TEL.mobi System being a Closed-Loop Members-Only service, with all Stored Credit coming into the system as “cleared funds” from Banks, and Five-Factor Multi-Factor Authentication security and a TAN Verification Number by Text prior to a Member being able to complete an ICLM Transaction, there is no possibility for Chargebacks, because:
  • With the 6 steps that each require confirmation before Sending ICLM Transactions, and
     
  • The Five-Factor Multi-Factor-Authentication required to Send an ICLM Transaction, and
     
  • The requirement to receive a unique Transaction Verification number on the Senders own Mobile Phone and input it into his/her TEL.mobi Account prior to the ICLM Transaction being Sent
     
  • There is no possibility for a Member to do so accidentally, and unless someone has:
  • Successfully stolen all of the Sender’s TEL.mobi Credentials, and
     
  • Has possession of the Sender’s own Mobile Phone, and
     
  • Has possession of the Sender’s own unlocking code for the Sender’s Mobile Phone, and
     
  • The Sending Member has not Blocked his/her own TEL.mobi Account.
     
  • Because the possibility of:
  • All of these situations occurring simultaneously, and
     
  • The Sender having had his/her Username, Password, ITAN Number stolen, and
     
  • That the Sender’s Mobile Phone would also have to be simultaneously stolen to receive the Verification Number of the ICLM Transaction, and
     
  • That the Sender’s unique own unlock code for his/her Mobile Phone would also have to be simultaneously stolen so as to be able to view the Verification Number for the ICLM Transaction by text, and
     
  • And that the Member’s Account would still, under all of these virtually impossible circumstances remain unblocked; despite Members being warned to block their TEL.mobi Accounts immediately if they suspect they have let their credentials be stolen, and Members being able to block their accounts immediately from any Mobile Phone or internet-enabled PED,
     

Is close to zero, once the cleared funds (Stored Credit) have been sent in an ICLM Transaction, they are definitively sent, and cannot be refunded without the consent of the Recipient.

 

  1. Immediate Refund Transfer Request Possibility

All Members (Merchants) may initiate immediate Refund Transfer Requests (according to the Refund Rules and Limits) for the Stored Credit in their TEL.mobi Accounts according to their business requirements. As long as the Refund Rules and Limits (which are structured to ensure efficient Refunding to the Bank Account of the Member, or Merchant, while at the same time adhering to Anti-Money Laundering considerations) are adhered to, Refund Requests may be initiated 24/7/365. The actual Refund Transfers to the Bank Accounts of Members (Merchants) are implemented 24/5/365 (Mondays to Fridays).

 

  1. Use of Onward ICLMs instead of Refund Transfers

The TEL.mobi Group’s VSMP and Member numbers are continuously increasing, and it is becoming easier to simply implement ICLM Transactions between Members (Merchants) for stock and services payments, as an alternative / add-on to carrying out Refund Transfers. This is increasing the convenience factor of ICLM Transactions between Members.

 

  1. Immediate selection of ICLM Currency (no more “hidden costs”/“double costs”)

Members (Merchants) displaying that they accept ICLM Transactions can specify the currency in which they accept the Transactions. Because all TEL.mobi Group Members have the ability to do forex conversions immediately between their Currency Wallets, this means that even for ICLM Transactions originating from Members whose Primary Currencies may be different, they can convert them to the currency of the Member (Merchant), and do the Transaction in his/her currency. As such, there are no more losses incurred by Members (Merchants) due to the hidden costs and/or effective double billing applied by standard providers through unfavorable forex conversions.

 

  1. Immediate Automatic Confirmation of Transaction In Wallet, History and Email

An ICLM Transaction is completed in 1/100th of a second. Moreover, the incoming Stored Credit is immediately able to be seen in the TEL.mobi Wallet of the Receiving Member (Merchant) – and is also reflected as having been debited from the Sender’s TEL.mobi Account. Added to this, full details and confirmation of every ICLM Transaction are immediately emailed to both the ICLM Sender and the ICLM Recipient, and also inserted into the Sender’s and Recipient’s “History” facility on their TEL.mobi Accounts. There is therefore instant, complete, verifiable, unambiguous and clear confirmation and evidence of every single unique ICLM Transaction immediately and clearly available in both the Receiver’s and Sender’s TEL.mobi Accounts, in multiple locations.

 

  1. Immediate Additional Confirmation of Transaction by Text Message (Optional)

Other than the immediate and automatic notifications and records of an ICLM Transaction to both the Receiver and Sender in their Wallets, History Facilities and Email, the Receiver may also request the Sender to additionally send a confirmation by immediate Text Message. If this option is applied, a Text Message confirming the successful conclusion of the ICLM Transaction – including the unique Transaction Number, Reference, Amount, Sender and Recipient – is sent to both the Receiver’s and the Sender’s Mobile Phone. This provides an additional instant, complete, verifiable, unambiguous and clear confirmation and evidence of every single unique ICLM Transaction immediately to both the Receiver’s and Sender’s Mobile Phone in a Text Message.

 

  1. Immediate and Automatic Completion of Accounting Documentation

Simultaneously with the completion of an ICLM Transaction, the Transaction is recorded in the “History” facility of both the Sender and Receiver of the ICLM Transaction. The recording is both in a Summary Format, and – when the Summary Format is clicked on – a Detailed Format. Members (Merchants) can do a one-click emailing of the Detailed Format of all Transactions to their registered email address directly from the system. The Detailed Format contains all information on every ICLM Transaction, including the Transaction Sender, Reference Number, Reference, Date, Time, Amount Transferred, Amount Received, Currency Conversion rate (if applicable), and Status. It is in a suitable format to be directly included into accounting systems or records of Members (Merchants).

 

  1. Immediate Compatibility with all Mobile Phones (and internet-enabled PEDs)

The ICLM / TITAN System is immediately compatible with all Mobile Phones, and internet- enabled Personal Electronic Devices (Tablets / Laptops / Computers / Other). Members (Merchants) can begin to fully utilize all facilities of the ICLM Service and the entire TEL.mobi Group System immediately upon Joining just by having, and with, a Mobile Phone.

 

  1. Immediate Exponential Market Increase to anyone with a Mobile Phone Worldwide

Becoming a Member (Merchant) on the TEL.mobi Group System immediately opens up markets to any person worldwide who has a Mobile Phone, in any and all countries worldwide, and regardless of the home currency of the Member. This exponentially increases potential markets to and for Members (Merchants) by factors, and also provides Members (Merchants) with access to markets that would otherwise be impossible for them to enter.

 

  1. No Third Party Persons or Entities involved – Pure Peer-to-Peer between Members

Any and every person on, or using, the TEL.mobi Group Facilities – including ICLM Transactions – is a vetted TEL.mobi Group Member, functioning within the Closed-Loop system. There is no possibility for a person or entity external to the Closed-Loop to access or use the TEL.mobi Group systems. As such, all ICLM Transactions are from internal vetted Members, with available Stored Credit. Moreover, all ICLM Transactions are Pure Peer-to-Peer Transactions, and they are the only true immediate and direct Peer-to-Peer Transactions – without any intermediary – of any entity or system worldwide. The absence of a “middleman” entity in these Pure and Direct Peer-to-Peer Transactions ensure the lowest possible cost, and ensures that the decision-making and control empowerment rests with the Member, not with a middleman entity and/or broker entity.

 

  1. Total and Seamless Inter-VSMP and Member interoperability and interaction

All TEL.mobi Group Members of all VSMPs – and all VSMPs – have seamless and total interoperability and interaction possibilities between one another’s TEL.mobi accounts. This is for all TEL.mobi Group Facilities, including ICLM Transactions, in an all-encompassing Closed-Loop System with a Global Footprint. As such, although it is a Closed-Loop Members-Only System, it nevertheless simultaneously provides a Borderless Global Market for and to Members (Merchants).

 

  1. Security of Account and Security of Funds

The Five-Factor Multi-Factor Authentication, six confirmations and additional Verification Number required to implement an ICLM Transaction provides security for all Members, be they Recipients (Merchants) or Senders (Clients of the Merchant). This is because Senders cannot realistically dispute their decision to make the ICLM Transaction, and Recipients are secure in the knowledge that if the ICLM Transaction has been successfully carried out, the funds (Stored Credit) are safely in their TEL.mobi Accounts. Furthermore, the same security makes it almost impossible for the Member’s (Merchant’s) TEL.mobi Account to be accessed and funds withdrawn by any other party. The only theoretical circumstance in which this could occur would be if the Member (Merchant) provides a third party with his/her Username, Password, ITAN Number, Mobile Phone, and Mobile Phone password/code – and does not block his/her account thereafter. This is not a credibly possible situation unless it is done under duress. However, even if that were to happen, there is still a complete record of all and any transactions on the account – and as Stored Credit can only be Refunded to a Bank Account of a Member who has provided full, verified and certified KYC Documents, there is always a record of exactly where – and to who, by individual and Bank Account – the funds (Stored Credit) have gone. Finally, Refund Requests are Requested by Members, but are implemented by Webtel.mobi. Therefore, even in the absolutely extraordinary circumstances where the unlikely events described above have occurred, it is also possible for Webtel.mobi to not implement a Refund Transfer to a Bank even if it is requested, if a Member contacts Webtel.mobi with a Request for Assistance, or if an unusual Transaction is requested. This system is more secure than even that of most financial institutions internationally.

 

  1. Currency Conversions between Wallets 24/5/365 from Anywhere

Currency Conversions between Members’ Currency Wallets are able to be done 24/5/365 (from 00:01 UTC on Mondays until 21:59 UTC on Fridays). This is because TEL.mobi Group Members are provided with Live Rates that are close to Interbank / Spot rates, and so this facility is only available when the global Currency Exchange markets are open. This means that Currency Conversions can be done easily by Members who are clients when doing an ICLM Transaction to a Member that is a Merchant, thereby facilitating easy and favorable Transactions, and driving up potential sales. It also means that Members who are Merchants can use this Currency Conversion facility when paying for supplies / paying suppliers in other currencies, which ensures retention of more value by the Member due to him/her receiving much more favorable conversion rates. These Currency Conversions can also be done immediately and from anywhere – whether from a highly sophisticated Smart Phone / Tablet / Computer in a First-World Capital City, to a Basic Mobile Phone in a Rural Area in the Developing World.

 

  1. ICLM Transactions can be Implemented 24/7/365 from Anywhere to Anywhere

The TEL.mobi System is permanently active. This allows ICLM Transactions to be instantly and reliably implemented 24/7/365. Regardless of the time of day, day of the week, or location in the world of a Sender or Receiver or the Phone or PED used, the ICLM Transaction will be completed in 1/100th of a second, with all of its advantages, security, reliability, convenience and cost-effectivity for both the Sender and the Receiver.

 

  1. ICLM Transactions are a Substitute for Card Transactions

ICLM Transactions are a far more effective, cost effective and safer substitute for Card Transactions. Some of the advantages that ICLM Transaction offer over Card Transactions are as follow:

  • No Card Charges of 2% to 3%.
     
  • No Retention of a Percentage of Funds (Stored Credit) for margin reasons.
     
  • No waiting time for Settlement of Funds to the Member (Merchant).
     
  • All funds (Stored Credit) Received Instantly by the Member (Merchant).
     
  • No Card Terminals and/or Equipment need to be Bought or Leased.
     
  • No Monthly Card Terminal / Card Services Fees.
     
  • No Unfavorable Forex Exchange Rates on Foreign Card Payments.
     
  • No Possibility for “Card Declined” Events due to Faulty Terminals or Faulty Cards.
     
  • No Possibility of Chargebacks.
     
  • No Possibility of Stolen Cards being used.
     
  • Instant Full Setup with all System Requirements already built-in.
     
  • Full Service Management and Operation with just a Mobile Phone.
     
  • Immediate Transaction Success Notification in Wallet and by Text and Email and in History.
     
  • Unique Transaction Code for Immediate Confirmation by Sender and Receiver.
     
  • Immediate Accounting Documentation in History.
     
  • Entire Transaction and Settlement In Total done in 1/100th of a Second.

 

  1. ICLM Transactions are a Safer Substitute for Cash Transactions

ICLM Transactions are a Safer Substitute for cash transactions, as the receipt of Stored Credit in an ICLM Transaction provides a Member (Merchant) with the equivalent value, in as instant a format as cash, but in a much more reliable, less risky, more secure and Anti-Money Laundered manner. It also completely removes the possibility for counterfeit and/or Money-Laundering cash to be inadvertently accepted

 

  1. Summary

There are, in fact multiple other advantages. They are too numerous to list, because for each of the very many separate business types and sectors and/or private uses there are specific advantages, and the list would therefore run into the hundreds of points. However, the advantages listed here represent top-level advantages that cut across all business types and sectors.

 

More Sectors and Advantages are not listed because none of these are, in fact, Services provided by the TEL.mobi Group. The TEL.mobi Group only provides Telephony Services. It is just the TEL.mobi Group Platform that enables these add-on advantageous uses by its Members. As they know their businesses and requirements best, it is up to them to decide if, how and why the Services on the TEL.mobi Group’s Platform – like the ICLM Service – can be used by or integrated into their own business and/or other activity.

 

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  1. Notification and Display of ICLM / TITAN Transactions Acceptance:
  1. Merchants, Websites, eCommerce entities and other entities can inform their clients / users that they can accept instant ICLM Transactions, by simply displaying their ITAN Number and Registered Mobile Number to potential clients on their websites or in/on other point-of-sale documents and/or positions.
     
  2. All that is necessary for any TEL.mobi Group Member to instantly accept ICLM Transactions is to join as a Member, and then display notification that they accept ICLM / TITAN Transactions (Both names refer to the same Service).
     
  3. It is strongly recommended that when displaying the ITAN Number and Registered Mobile Number that a second Mobile Number is obtained, verified and saved into the displayer’s TEL.mobi Account, and set as the Primary Registered Mobile Number for display purposes. This is because publicly displayed mobile numbers are not conducive to privacy.
     
  4. Examples of how to display the capacity to accept ICLM Transactions are as appear below:

 

Detailed ICLM Acceptance Notification


We Accept TEL.mobi

ICLM Direct-to-Mobile-Billing

ITAN: WM01020304050607080901

Mobile: +00 01010 010 010

Description: Whatever is relevant

Transfer Fee: For your Account

Transfer Currency: GBP

Confirmation by Text: Yes


or


We Accept TEL.mobi

ITAN: WM01020304050607080901

Mobile: +00 01010 010 010

Description: Whatever is relevant

Transfer Fee: For your Account

Transfer Currency: GBP

Confirmation by Text: Yes


Displayer decides on Description, Transfer Fee “For our Account” or “For your Account”, Currency and Confirmation by Text or not

 

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  1. MORE INFORMATION

More information on the ICLM Service, including information on:

 

  • Discounted Redemptions from ICLM Transactions
     
  • Refund Transfer Details and Rules
     
  • Know Your Client (“KYC”) and Anti Money Laundering (“AML”) Rules & Processes
     

Can be obtained in:

 

  • The ICLM Transaction booklet, available in PDF format (click here)

    or
     
  • The Independent Agent Handbook, available in PDF format (click here)

 

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  1. SNAPSHOT OF THE TMG’S “ICLM TRANSACTION” SERVICE

Click here to see a larger image

 

 

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